Tencent logo / Courtesy of Yonhap News Agency

Tencent, China's largest IT corporation, has revealed that it is not considering acquiring equity in domestic corporations such as Nexon and Kakao Mobility.

Reuters reported that Tencent refuted claims on the 19th about its intention to acquire equity in Nexon and Kakao Mobility, stating, "It is not true."

The previous day, a domestic media outlet reported that Tencent had expressed its intention to acquire equity from financial investors (FIs) who are pushing to sell Kakao Mobility's equity.

Bloomberg also reported on the 12th that Tencent is considering acquiring Nexon equity, which is listed on the Japanese securities market, for $15 billion (about 20 trillion won). It was reported that Tencent has contacted the bereaved family of the late Kim Jung-ju, the founder of Nexon Group.

Regarding the related reports, Kakao Mobility and Nexon Group's holding company NXE (NXC) did not provide any specific response.

Meanwhile, Tencent's subsidiary Tencent Music Entertainment (TME) recently purchased 9.38% equity of SM Entertainment held by HYBE for 240 billion won through an after-hours block deal. As a result, Tencent has become the de facto second-largest shareholder, following Kakao and Kakao Entertainment, which hold a combined 41.50%.