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Recently, Tencent Holdings, an affiliate of MIH China, announced that it would pick up a 50 per cent stake in MIH India, the owners of ibibo.com, a social media website. It also said it will invest $7.5 million in the company over next three years (this investment is not to be confused with the value of the 50 per cent stake of the company, according to company officials).
MIH China is 35-per cent owned by Naspers, the parent of MIH India. Although the deal seems to be an intra-organisational one, the tie-up will mean the Indian entity will have access to the technologies of Tencent, besides other capabilities in internet and mobile value added services. Catherine Chan, spokesperson for Tencent Holdings Ltd, said that her company has been