Tencent Holdings Ltd., Asia’s biggest Internet company by market value, will buy a stake in digital mapping provider NavInfo Co. for 1.17 billion yuan ($187 million), after Alibaba Group Holding Ltd. announced a similar deal earlier this year.
Tencent, owner of the WeChat instant messaging application, will buy 78 million NavInfo shares, an 11.3 percent holding, from that company’s state-owned parent China Siwei Surveying & Mapping Technology Corp., according to a Shenzhen Stock Exchange filing yesterday. Siwei’s stake will fall to 12.6 percent.
