Tencent to Acquire Kakao Mobility?

• Tencent (700 HK) has emerged as a major contender to acquire about 40% stake in Kakao Mobility which operates Korea' leading ride hailing app Kakao T.

• Tencent's investment stakes in the nine major Korean companies are worth 6.9 trillion won ($5.0 billion). Most of the investments are in the games and entertainment/K-Pop related sectors.

• The VIG consortium has reportedly valued Kakao Mobility at about 6 trillion won ($4.4 billion).