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

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This entry was posted on Wednesday, June 18th, 2008 at 12:10 pm and is filed under Internet. You can follow any comments to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

One comment

  1. Sonia Malhotra
    June 20, 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
    India’s First Hotels Comparison Engine