Source Denies Tencent-Nexon Acquisition Talks
A source close to Chinese tech giant Tencent has explicitly denied reports suggesting the company is in negotiations to acquire South Korean game developer Nexon. The source stated on Friday that Tencent has neither contacted the founder’s family regarding a potential deal nor is it considering an acquisition. This denial directly contradicts earlier media speculation that Tencent was exploring a purchase of Nexon at a valuation of approximately $15 billion and had already initiated contact with the founding family. Public records indicate that NXC, the holding company for Nexon's founding family, holds a controlling 48.42% stake in the developer, while the Public Investment Fund of Saudi Arabia remains the second-largest shareholder with a 10.51% interest. The clarification aims to dispel market rumors surrounding a major consolidation in the global gaming industry, emphasizing that no such strategic moves are currently underway by Tencent regarding Nexon.
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Source Denies Tencent-Nexon Acquisition Talks
A source close to Chinese tech giant Tencent has explicitly denied reports suggesting the company is in negotiations to acquire South Korean game developer Nexon. The source stated on Friday that Tencent has neither contacted the founder’s family regarding a potential deal nor is it considering an acquisition. This denial directly contradicts earlier media speculation that Tencent was exploring a purchase of Nexon at a valuation of approximately $15 billion and had already initiated contact with the founding family. Public records indicate that NXC, the holding company for Nexon's founding family, holds a controlling 48.42% stake in the developer, while the Public Investment Fund of Saudi Arabia remains the second-largest shareholder with a 10.51% interest. The clarification aims to dispel market rumors surrounding a major consolidation in the global gaming industry, emphasizing that no such strategic moves are currently underway by Tencent regarding Nexon.
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