Tencent Holding (OTCMKTS:TCEHY) entered a pact to buy a 29% stake in Funcom. The deal is valued at $134.33 million based on the closing price on Friday. KCJ Capital has sold the shares to Tencent at a premium of 21.8% on the closing price of Funcom on Friday. Tencent becomes a significant shareholder in Funcom […]
Economy
People’s Bank Of China Gives Nod To Paypal Holdings Inc (NASDAQ:PYPL) To Acquire A Majority Stake In GoPay
People’s Bank of China (PBOC), the state-owned bank, gave the nod to Paypal Holdings Inc (NASDAQ:PYPL) to acquire a stake of 70% in GoPay. Paypal would become the first International Company to get the license for payment processing in China. The company would acquire the majority stake in GoPay through a China-based subsidiary – Yinbaobao. […]
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