Tencent sees video games and more ads in Snapchat's future
Investors are treating Chinese giant's move to acquire a 12% stake in US social media network as an investment
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Hong Kong
CHINESE Internet giant Tencent Holdings Ltd said on Thursday it could help Snapchat owner Snap Inc publish video games and improve ad sales after acquiring a 12 per cent stake in the US social media network.
Snap's disclosure in a US regulatory filing that Tencent had recently bought 145.8 million of its shares on the open market set off a wave of speculation among investors about the relationship between the firms.
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