Tencent in talks to buy majority stake in Supercell: WSJ
24 May 2016
The owner of the popular WeChat messaging platform, Tencent, is in early talks to buy a majority stake in Supercell - the mobile gaming company based in Finland from current majority shareholder Softbank.
Supercell is the developer and publisher of multi-billion dollar earning mobile game, "Clash of Clans". It reported FY 2015 revenue of $2.3 billion and $924 million in net income.
SoftBank holds a 51 per cent stake in Supercell. According to the report, Tencent Holdings was in talks with Japan's SoftBank to buy the Japanese company's majority stake in Finland's Supercell.
Tencent was up 0.9 per cent last morning after the Journal report, while the Hang Seng Index was down 0.2 per cent.
In a report last week Bloomberg had speculated the deal value could be worth over $5 billion.