Tencent does not abandon plans to buy Bluehole
The Chinese corporation Tencent has not abandoned its intentions to purchase Bluehole, which created the phenomenally successful PvP shooter PLAYERUNKNOWN’S BATTLEGROUNDS.
This is reported by the South Korean business publication The Korea Times, citing sources familiar with the situation.
Tencent offered Bluehole a deal even before PUBG reached the peak of popularity, and was refused.
The Korea Times suggests that the owners of Bluehole shares can now sell with the greatest benefit, as the company’s market value has grown to $4.6 billion.
In addition, not a single gaming corporation in Korea, including NCsoft and Nexon, will have enough funds for such an acquisition, whereas Tencent would be able to overpower the purchase of Bluehole.
The publication rejects the possibility of an IPO by Bluehole as long as the company is headed by its founder Chang Byung-gyu (Chang Byung-gyu).
Bung-gyu owns the largest stake in Bluehole at 20.4%.
He also holds the position of chairman of the State Committee of the Fourth Industrial Revolution, which includes the largest businessmen and politicians of South Korea.
If Bluehole goes public, Bung-gyu will face a barrage of criticism for using his political influence for personal enrichment.
“The sale of Bluehole shares to a Chinese corporation will attract less attention and criticism,” writes The Korea Times.
Chang Bung-gyu himself previously told the press that he was in “promising negotiations” with Tencent regarding the sale of Bluehole shares, but did not go into details.
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