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
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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