STOCKHOLM (Reuters) – Shares in MTG soared 24% on Monday after the Swedish e-sports and gaming firm said Chinese live streaming platform Huya would buy a stake in its portfolio company Turtle Entertainment (ESL) and help it expand into China.
Huya, backed by internet giant Tencent , will invest $30 million in ESL, at an enterprise value of $425 million, MTG said.
Huya - ESL - Company - World - Venture
Huya and ESL, the largest e-sports company in the world, will also form a joint venture, while ESL will issue $22 million worth...
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