ByteDance in talks to buy mobile games publisher CMGE - report

Tuesday 22 December 2020 | 09:02 CET | News
ByteDance, the parent of Tiktok, is mulling the acquisition of mobile games publisher CMGE Technology Group Ltd, reuters reported, citing sources with direct knowledge of the matter. The parties are in discussion for ByteDance to buy part or all of the 27.6 percent CMGE stake held by Fairview Ridge Investment, controlled by CMGE chairman Xiao Jian and vice chairman Sin Hendrick. ByteDance is looking to pay HKD 4-5 (USD 0.52-0.64) per share. The stock closed at HKD 3.08 on 21 December.

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Categories: Mobile & Wireless
Companies: TikTok
Countries: World
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