Staff Reporters
Aug 30, 2010

Tencent invests US$10.5m in Thai online portal Sanook

BANGKOK - Chinese internet giant Tencent has confirmed it will acquire 2,496 Mweb Holdings shares, representing 49.92 per cent of Sanook's share capital for US$10.501 million.

Tencent QQ is the most popular free instant messaging computer program in Mainland China
Tencent QQ is the most popular free instant messaging computer program in Mainland China

Sanook is the leading online service provider for Thai consumers with respect to entertainment, information, commerce and community services. Through its operating subsidiaries, Sanook currently engages in a variety of internet-related businesses, including portal, internet advertising, instant messaging, mobile value-added services, e-commerce, classifieds and casual games.

The deal comes shortly after Tencent reportedly acquired a Google backed Chinese social networking company for US$60 million.

The acquisition marks another step for Tencent, which leads China's online game and instant message markets, as it expand into the social networking sector. 

Aside from Sanook, Tencent has also bought Google-backed Comsenz, a social network and online forum firm in China and paid US$300 million for a 10 per cent stake in Russia internet firm and Facebook investor Digital Sky Technologies. 

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