Rumor: Tencent Acquires Shanda Cloudary

Sina Tech, 11/06/14

According to an industry source, Chinese internet and mobile services firm Tencent (0700.HK) has finalized an acquisition of Cloudary, the online literature platform of online media provider and game operator Shanda Interactive. Neither Tencent nor Shanda have commented on the rumor.

Another industry source suggested that a consortium including Tencent, Baidu (Nasdaq: BIDU), and three investment funds previously approached Cloudary, valuing the company at RMB 4-5 bln (USD 650-810 mln).

Editor's Note: In mid-2013, Goldman Sachs and Temasek reportedly invested USD 110 mln in Cloudary for a combined stake of less than 20%, representing a significant decrease from Cloudary's mid-2012 valuation of USD 800 mln. For more details on this topic, please see "Rumor: Shanda Cloudary Lands USD 110 Mln in New Funding," MD 7/08/13 issue.

Keywords: Shanda Internet online literature Tencent 0700.HK Cloudary M&A

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