Chinese gaming company FunPlus is selling a subsidiary to construction conglomerate Shanghai Zhongji Investment Holding for $960m in the country’s largest ever gaming deal, writes Charles Clover.
The acquisition shows the mainstream appeal of gaming in China, which had revenues of Rmb52bn ($9bn) in the first half.
“A lot of Chinese industrial conglomerates [are] getting into middle-class entertainment,” said Mike Vorhaus of Majid Advisers.
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