Tencent not in talks to acquire Nexon, source says: report

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A source close to Tencent has revealed on Friday that “Tencent has not been in contact with the founder’s family to discuss a deal, nor is it considering acquiring Nexon.” Earlier media reports claimed that Tencent was exploring a potential acquisition of South Korean game developer Nexon at a valuation of $15 billion and had already approached the founder’s family. Public information shows that NXC, the holding company of Nexon’s founding family, owns 48.42% of Nexon, while the Public Investment Fund of Saudi Arabia is the second-largest shareholder with a 10.51% stake. [BKE Economy, in Chinese]Related