November 29, 2020
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Chinese Mega Corporation purchases stock from Ubisoft

Chinese Mega Corporation Tencent has purchased 5% stock of famous French video game publisher Ubisoft. Tencent is a multinational mega corporation that owns businesses in many industry including various internet-related services, social networks, entertainment, AI products and online gaming. Ubisoft sold 5% of its stock to Tencent and both agreed to develop the gaming market in China. Tencent has the largest online gaming market in China and Ubisoft is also infamous with its franchises such as Assassin’s CreedFar CryTom Clancy, Prince of Persia etc.

According to the contract between the two, the Chinese Mega Corporation will not take a seat in the board of Ubisoft and can not resale the stock to a third party. 

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