Korean video games firm Nexon fails to draw bid from Tencent, scraps deal potentially worth US$16 billion

//Korean video games firm Nexon fails to draw bid from Tencent, scraps deal potentially worth US$16 billion

Korean video games firm Nexon fails to draw bid from Tencent, scraps deal potentially worth US$16 billion

Nexon founder Jungju Kim has scrapped plans to sell a controlling stake in its parent, NXC, two sources with direct knowledge of the matter said on Monday, scuppering potentially the largest deal in the gaming sector, at up to US$16 billion.Kim had been looking to sell the 98.6 per cent stake he and his wife hold in NXC, which in turn owns 48 per cent of Tokyo-listed South Korean video game publisher Nexon.Since it emerged in January, the sales plan has been dogged by funding challenges, the…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2019-07-09T05:03:30+00:00 July 9th, 2019|Business|Comments Off on Korean video games firm Nexon fails to draw bid from Tencent, scraps deal potentially worth US$16 billion