Tencent to acquire stake in Navinfo

Tuesday 6 May 2014 14:24 CET | News

Chinese internet service provider Tencent has revealed plans to acquire an 11.3% stake in digital mapping service provider Navinfo, reports.

According to the source, Tencent will buy 78 million shares at CNY 15.04 per share from Navinfo’s shareholder, China Siwei Surveying & Mapping Technology Corporation.

In March 2014, a report by market research company Newzoo revealed that Tencent has turned into the world’s largest company in terms of revenues in 2013.

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Keywords: Tencent, Navinfo, ecommerce, internet service provider
Categories: Payments & Commerce
Countries: World
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