On Air Now

Current Show

Health Talk   9:00 PM - 10:00 PM

Call in to “Health Talk” with Dr. Ronald Hoffman at 800-544-7070.

Show Info »

Upcoming Shows

Program Schedule »

Tune in to Listen

650 AM Hibbing, Minnesota

Weather

Current Conditions(Hibbing,MN 55746)

More Weather »
68° Feels Like: 68°
Wind: N 5 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Showers Early 59°

Tomorrow

Cloudy 75°

Sat Night

Mostly Cloudy 58°

Alerts

  • 0 Severe Weather Alerts
  • 0 Cancellations

China's Tencent plans to acquire stake in map provider Navinfo

SHANGHAI (Reuters) - Chinese internet service provider Tencent Holdings plans to acquire an 11.3 percent stake in digital mapping service provider Navinfo Co Ltd for 1.17 billion yuan ($187.33 million), Navinfo said late on Monday.

Tencent will buy 78 million shares at 15.04 yuan per share from Navinfo's major shareholder China Siwei Surveying & Mapping Technology Corporation, according to a statement posted on the website of the Shenzhen Stock Exchange. The deal is pending regulatory approval.

Last month rival Alibaba Group Holdings announced a similar deal to acquire online map provider Autonavi Holdings as China's internet giants chase growth through increasingly aggressive acquisition strategies.

(Reporting by Pete Sweeney; Editing by Subhranshu Sahu)

Comments