China's Tencent buys 12% stake in Snapchat owner

China's Tencent buys 12% stake in Snapchat owner

REUTERS/Aly Song

Tencent Holdings Ltd now has a 12 percent stake in Snapchat operator Snap Inc, company filings showed on Wednesday, the latest in a string of major investments in the United States by China’s new tech heavyweights.

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