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Xiaomi to buy 3% of software firm Kingsoft

Beijing-based Xiaomi will pay Tencent Holdings HK$527m for the Kingsoft stake.


CHINA'S Xiaomi Inc has agreed to buy about 3 per cent of software firm Kingsoft Corp Ltd from Tencent Holdings Ltd for HK$527 million (S$90.5 million), according to a Kingsoft filing on Monday. The deal with Xiaomi, the world's third-biggest smartphone maker, is expected to close...