Chinese firm TenCent signs deal to acquire 50% of MIH India Global
TenCent Holdings, a leading Chinese portal, has secured an option to acquire upto 50% of MIH India Global Ltd. MIH operates the portals iBibo, Dwaar and OneFamily.
TenCent plans to invest $7.5 million in MIH India Global over the next three years.
MIH India Global is backed by media conglomerate Naspers, which, also owns a 35.5% stake in TenCent. Nice !!
via release
June 20th, 2008 at 1:31 pm
$ 7.5 Million for 50% stake in MIH seems unbelievable……so many startups get this much in their first round itself. There’s much more than seen here. I think the Balti is worth more than that…..
Sonia Malhotra
Internetpreneur
http://www.GhumiChale.com
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