News

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, reuters.com 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.

Check out our Cross-border Ecommerce Research section for more info on specific ecommerce facts & figures, preferred payment methods, risk and fraud, as well as ecommerce legislation & regulation in China .


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Tencent, Navinfo, ecommerce, internet service provider
Categories: Payments & Commerce
Companies:
Countries: World
This article is part of category

Payments & Commerce