Tencent invests $448 mln to buy 36.5 pct stake in Sohu's search engine

BEIJING, Sept 16 Mon Sep 16, 2013 3:26pm IST

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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.