China's Tencent eyes bigger stake in French video game maker Ubisoft

FILE PHOTO: A Tencent logo is seen in Beijing, China September 4, 2020. REUTERS/Tingshu Wang/File Photo

Tencent Holdings Ltd plans to raise its stake in French video game group Ubisoft Entertainment SA as the Chinese gaming giant pivots to the global gaming market, four sources with direct knowledge of the matter told Reuters.

China’s largest social network and gaming firm, which bought a 5% stake in Ubisoft in 2018, has reached out to the French firm’s founding Guillemot family and expressed interest in increasing its stake in the firm, the sources said.

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