Tencent says it wants to cooperate with Snap on games

Reuters News
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Posted: Nov 08, 2017 9:58 PM

HONG KONG (Reuters) - Chinese tech firm Tencent Holdings Ltd said in a statement on Thursday it wanted to use its expanded stake in Snapchat owner Snap Inc to explore cooperation on mobile games publishing and a news feed.

Tencent, which first invested in Snap in 2013, has recently bought enough shares to raise its stake in Snap to 12 percent, the California-based company said in a regulatory filing on Wednesday.

Games and a news feed have not been a part of Snapchat, although the company on Tuesday launched a redesign.

(Reporting by Sijia Jiang in Hong Kong; Writing by David Ingram in San Francisco; Editing by Chris Reese)