ByteDance in talks to buy stake in mobile games firm CMGE - sources

By Julie Zhu and Yingzhi Yang

Technology
Tuesday, 22 Dec 2020
1:47 PM MYT

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FILE PHOTO: The ByteDance logo is seen in this illustration taken, Nov. 27, 2019. REUTERS/Dado Ruvic/Illustration/File Photo

HONG KONG/BEIJING (Reuters) - China's ByteDance is in talks to buy into mobile games publisher CMGE Technology Group Ltd, four people with direct knowledge of the matter told Reuters, as the owner of short video app TikTok moves to strengthen its next pillar of growth.

A CMGE spokesman said the company is not in talks to sell a stake to ByteDance. A ByteDance source said it had held talks with CMGE but was not interested in buying into the company.

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ByteDance in talks to buy stake in mobile games firm CMGE - sources