Tencent buys 5% stake in Australian fintech firm Afterpay

Photo: REUTERS/Jason Lee/File Photo

Chinese gaming and social media group Tencent Holdings has bought a 5% stake in Afterpay Ltd, the Australian buy-now-pay-later firm said on Friday.

Tencent’s shareholding in the Australian firm was worth about A$390 million ($251.55 million), based on Afterpay shares’ closing level on Friday.

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