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China's Tencent buys 12 pct stake in Snapchat owner
November 8, 2017 / 11:38 AM / 16 days ago

China's Tencent buys 12 pct stake in Snapchat owner

Nov 8 (Reuters) - China’s Tencent Holdings Ltd has bought a 12 percent stake in Snapchat parent Snap Inc, a regulatory filing showed on Wednesday.

Snap said Tencent acquired 145.8 million shares of its non-voting Class A common stock through open market purchases this month. bit.ly/2zqvybE

Snap had about 1.2 billion shares outstanding. (Reporting by Arjun Panchadar in Bengaluru; Editing by Sai Sachin Ravikumar)

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