China Literature, the e-books business spun off by Tencent Holdings Ltd, has agreed to acquire a 20-per cent stake in Thai startup OBU for $10.5 million, according to a Hong Kong exchange filing.
Shanghai-based China Literature is one of the country’s largest online literature platform. It owns nine major branded products and its flagship is QQ Reading, a mobile aggregation and distribution platform. Tencent holds a controlling stake in the company.
