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China’s Tech Giant ‘Tencent’ Captures 12% Stake In Snapchat Parent Corporation

Entrance of headquarters of Tencent
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Snapchat parent Snap Inc. disclosed Wednesday that Chinese tech giant Tencent had taken a 12 percent stake, in a sign of confidence in the social network which has delivered disappointing results since its share offering this year. A securities filing showed Tencent Holdings had purchased some 146 million shares of Snap non-voting stock in open market…


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