Ron Burgundy Posted January 19, 2015 Share Posted January 19, 2015 China's Xiaomi Inc [XTC.UL] has agreed to buy about 3 percent of software firm Kingsoft Corp Ltd from Tencent Holdings Ltd for HK$527 million ($67.99 million), according to a Kingsoft filing on Monday. The deal with Xiaomi, the world's third-biggest smartphone maker, is expected to close on Jan. 30, the filing to the Hong Kong exchange said. Chinese social networking and video game giant Tencent will still hold 9.6 percent of Kingsoft. Xiaomi CEO and Chairman Lei Jun is also a founder and now chairman of Kingsoft, which makes entertainment, Internet security and office software. View the full article Quote Link to comment Share on other sites More sharing options...
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