Tencent Games Denies Rumor of Forming China JV with Nintendo
Tencent Games, 11/23/17
Chinese internet and mobile services firm Tencent (0700.HK) has denied recent rumors that it will form a joint venture company with Japanese game company Nintendo.
According to the rumor, a company called Shenyou would be reorganized as Nintendo Tencent Ltd., with Tencent holding 51% and being responsible for publishing and sales of localized games in the greater China region. Nintendo's Hong Kong and Taiwanese subsidiaries would only be responsible for console and game sales in their respective regions. The details were reportedly to be finalized and announced prior to the upcoming Chinese New Year in February 2018.
Editor's Note: Shenyou is reportedly a 3D animation and consumer electronics producer jointly established in 2002 by Nintendo and Chinese American entrepreneur Dr. Yan Weiqun.
Keywords: Yan Weiqun Internet Tencent JV 0700.HK Nintendo console gaming