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China’s Tencent plans to acquire stake in map provider Navinfo

06
May
2014

SHANGHAI (Reuters) – Chinese internet service provider Tencent Holdings plans to acquire an 11.3 percent stake in digital mapping service provider Navinfo Co Ltd for 1.17 billion yuan ($187.33 million), Navinfo said late on Monday. Tencent will buy 78 million shares at 15.04 yuan per share from Navinfo’s major shareholder China Siwei Surveying & Mapping Technology Corporation, according to a statement posted on the website of the Shenzhen Stock Exchange. The deal is pending regulatory approval. …

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