Julie Zhu, Yingzhi Yang
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ByteDance in talks to buy stake in mobile games firm CMGE -sources

ByteDance in talks to buy stake in mobile games firm CMGE -sources

By , HONG KONG/BEIJING (Reuters) - China’s ByteDance is in talks to buy into mobile games publisher CMGE Technology Group Ltd, four people with direct knowledge of the matter told Reuters, as the owner of short video app TikTok moves to strengthen its next pillar of growth.The deal would come as the gaming industry continues to benefit from COVID-19 pandemic countermeasures which have forced people to stay at home, boosting game downloads.ByteDance plans to buy part or all of the 27.6% CMGE stake held by Fairview Ridge Investment Ltd, controlled by CMGE chairman Xiao Jian and vice chairman...

December 22, 2020
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