Tencent Holdings Ltd. Stock News

Thornburg's Sean Sun likes high-quality growth companies with reasonable valuations and “optionality.”

Streaming media firm China Ruyi Holdings , backed by gaming and internet company Tencent , is aiming to raise between $300 million and $500 million in convertible bonds next week, two sources with knowledge of the plan said.

Chinese tech titan Tencent is set to invest $1.25 billion in French video game maker Ubisoft, in exchange for a 25% stake in a new subsidiary of the "Assassin's Creed" publisher.

Tencent Holdings (HKG:0700, OTC:TCEHY) has invested €1.2 billion in a new Ubisoft Entertainment (OTC:UBSFF, EPA:UBI) spin-off that will manage several of the French gaming firm's flagship franchises, including Assassin's Creed, Far Cry and Rainbow Six. The deal values the new entity at around €4 billion.

Shares in Ubisoft were seen up 13-15% premarket on Friday after the French video-game maker announced plans to set up a unit with Tencent , two traders said.

Tencent has invested $1.25 billion in a new Ubisoft operating division that includes the core games Assassin's Creed, Far Cry and Tom Clancy's Rainbow Six brands.

French videogame maker Ubisoft said on Thursday it has set up a subsidiary in which China's Tencent will invest 1.16 billion euros ($1.25 billion).

Ubisoft on Thursday announced it's setting up a new subsidiary that will focus on its gaming brands Assassin's Creed, Far Cry and Tom Clancy's Rainbow Six. Chinese technology giant Tencent will invest 1.16 billion euros ($1.25 billion) into the unit.