Shenzhen-based Tencent Holdings (0700.H) is set to purchase a 10% stake in Russian investment firm Digital Sky Technologies (DST) for US$300 million, the Wall Street Journal reported. DST chief executive Yuri Milner said, "Our teams share many common views and beliefs and a clear vision about the significant opportunities that lay ahead." DST has stakes in several of Russia’s leading internet firms including Mail.ru, as well as a 10% stake in Facebook. Famous for its "QQ" instant messaging service, Tencent’s deal with DST will be its biggest investment outside China as it looks to expand its online gaming business beyond domestic borders.
Categories