Tencent invests $448 mln to buy 36.5 pct stake in Sohu's search engine
BEIJING, Sept 16
BEIJING, Sept 16 (Reuters) - Tencent Holdings Ltd said on Monday that it will buy a 36.5 percent stake in Sohu.com Inc's Sogou search engine, China's third-largest, to lift its presence in the fast-growing China market for search and Internet services.
Tencent's share could increase to roughly 40 percent in the near future, it said in a statement.
Tencent's own search engine, Soso, has a 3.15 percent market share by users. Sogou has a 10 percent share, behind Qihoo 360 Technology with 17 percent and Baidu Inc with 66.4 percent.
- Tweet this
- Share this
- Digg this
- Odile batters Mexico's Baja resorts, knocks out power to most area
- Google launches $105 Android One; eyes low-price smartphone boom
- Hurricane Odile batters Mexico's Baja resorts, sparks looting
- UPDATE 5-Hurricane Odile batters Mexico's Baja resorts, sparks looting
- India tightens Vietnam defence, oil ties ahead of China's Xi's visit