Deals
Tencent Buys $115 Million Kingsoft Stake to Expand Security
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Tencent Holdings Ltd., China’s biggest Internet company, agreed to buy a 15.7 percent stake in Kingsoft Corp. for HK$892 million ($115 million) to expand in computer-security services.
Tencent will buy 111.5 million shares from Kingsoft Chief Executive Officer Kau Pak Kwan and 66.9 million shares from non-Executive Director Cheung Shuen Lung, Kingsoft said in a filing yesterday. The deal is scheduled to be completed today, it said.