China’s Tencent builds $2bn stake in Snapchat parent company

China’s Tencent builds $2bn stake in Snapchat parent company

Tencent, the Chinese company behind the popular messaging platform WeChat, has built a more than $2bn stake in Snap, the California-based parent company of Snapchat, in a move that could see the groups collaborate on gaming and news.   In its latest quarterly filing, Snap said Tencent had built a position of 145.78m non-voting shares…

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