Internet company Tencent Holdings is reportedly in talks to join a Chinese investor group "pursuing a takeover of Finland's Amer Sports," according to Baigorri, David, Chen & Chan of BLOOMBERG. Tencent, China's largest social media company, is considering joining the consortium led by Anta Sports Products Ltd. as a minority investor, according to sources. The buyer group is also in talks with other potential minority partners, "though no firm agreements have been reached," sources said. Anta said in September that it had joined with Chinese buyout firm FountainVest Partners to make an "indicative offer" of €40 ($45) per share for Amer. Roping in Tencent "could help the investor group boost Amer's brand" in one of the world's biggest online shopping markets (BLOOMBERG, 11/14).
PROFIT INCREASE: VARIETY's Patrick Frater reported Tencent, which has been "battered by problems in its games division," unveiled third quarter results showing a 19% increase in non-generally accepted accounting principals net profits of $2.97B, on revenue up 24% to $11.7B. GAAP net profits were up 30% to $3.4B in the three-month period. Despite the regulatory problems that Tencent highlighted in its July financial statement, the company said that it currently has 15 games with "monetization approval" and that it released 10 titles in the quarter. Online games revenues grew 7% year-on-year and 11% on the previous quarter to hit $2.81B in the three months from July-September (VARIETY, 11/14).
