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Tencent looks overseas to level up


Chinese tech giant Tencent is looking to boost its overseas presence as things get tough at home.

Tencent, the world’s largest video game company by revenue, has invested around $300 million in the largest shareholder of the French video game maker Ubisoft. Tencent would get a 49.9% stake in Guillemot Brothers, controlled by Ubisoft’s founding family, and provide the holding company with a long-term unsecured loan, Ubisoft said.

wsj

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