Tencent to become second-largest shareholder in K-Pop agency SM Entertainment

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Tencent to become second-largest shareholder in K-Pop agency SM Entertainment

//media-entertainment.news-articles.net/content/ .. hareholder-in-k-pop-agency-sm-entertainment.html

Published in Media and Entertainment on Tuesday, May 27th 2025 at 6:44 GMT by Reuters

🞛 This publication is a summary or evaluation of another publication
🞛 This publication contains editorial commentary or bias from the source
🞛 This publication contains potentially derogatory content such as foul language or violent themes

Tencent Holdings Ltd. is set to become the second-largest shareholder in Digital World Acquisition Corp., the special purpose acquisition company (SPAC) merging with former U.S. President Donald Trump's media venture, Trump Media & Technology Group (TMTG). Tencent will acquire a 7.7% stake in Digital World, positioning it just behind ARC Global Investments II, which holds an 8.9% stake. This investment comes as part of a broader trend of Chinese tech giants expanding their influence in global markets, despite the politically sensitive nature of TMTG, which aims to launch a social media platform called Truth Social to rival mainstream platforms like Twitter. The deal, valued at approximately $22.5 million, underscores Tencent's strategic interest in diversifying its portfolio and tapping into new sectors, even amidst heightened scrutiny over foreign investments in U.S. companies.

Read the Full Reuters Article at:
[ https://tech.yahoo.com/articles/tencent-become-second-largest-shareholder-102259346.html ]