Tencent Buys into Media Co Huayi Bros
Tencent (0700.HK) has acquired a 4.6% stake in movie and TV entertainment company Huayi Brothers Media (300027.SZ) in a strategic investment worth approximately RMB 450 million, qq.com reported May 9. Huayi directors including Jack Ma and Yu Feng sold existing shares to Tencent, as part of the transfer agreement, said the report.
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