Market Chatter: Tencent Said to Weigh Marvelous Stake Sale in Portfolio Review
Tencent (HKG:0700) is reviewing a number of its game studio investments in Japan and exploring exits from some holdings, including Marvelous (TYO:7844), Bloomberg News reported, citing people familiar with the matter.The Chinese technology company is evaluating minority stakes across its gaming portfolio and, in some cases, may sell holdings back to management teams, the report said.It is reportedly reviewing investments based on factors including strategic fit and whether expected business synergies remain intact."Video games are core to Tencent's business," the company said in a statement to."We remain fully committed to working with our investees and maintaining our strong presence in the Japanese game market over the long term," it added.Marvelous did not immediately respond to a request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)