Money briefs : Tencent leads group taking over Supercell

Tencent leads group taking over Supercell

BEIJING • Tencent Holdings, China's largest Internet company, will lead a group buying control of game maker Supercell for US$8.6 billion (S$11.5 billion), getting its hands on some of the industry's most popular mobile titles.

The group is buying 84 per cent of the stock, including shares held by SoftBank Group Corp as well as current and former employees. The deal values the Finnish gaming house at about US$10.2 billion.

BLOOMBERG


Softbank president quits in surprise move

TOKYO • Mr Nikesh Arora, touted as heir apparent at SoftBank Group, will step down from the Japanese company in a surprise departure that coincides with one of its most profitable deals.

The former Google executive and one of the highest-paid company officials in the world will remain as adviser. Chairman Masayoshi Son credited Mr Arora with playing a pivotal role in yesterday's deal to sell a majority stake in Supercell.

BLOOMBERG

A version of this article appeared in the print edition of The Straits Times on June 22, 2016, with the headline 'Money briefs'. Print Edition | Subscribe