Tencent pays $448 million for Sogou stake

China’s online battle heats up as the country's biggest internet group, which on Monday saw its market capitalisation surpass US$100bn for the first time, says it will merge its Soso search business with its rival.

Tencent pays $448 million for Sogou stake

Tencent, the Chinese internet group, has taken a 36.5 per cent stake in domestic rival Sogou, further expanding its reach at a transformative time for the country’s internet industry.

China’s biggest internet group, which on Monday saw its market capitalisation surpass US$100bn for the first time, paid US$448 million for the stake and merged its Soso search business with its new partner.

Tencent’s stake could increase to 40 per cent...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: china | internet | tencent | alibaba

Print Edition

FinanceAsia Print Edition

EVENTS