In a statement China’s market regulator said, it has approved Tencent Holdings’ plan to purchase an equity stake in Studio 9, a Chinese animation company.

China’s State Administration for Market Regulation made the announcement on its website.

Tencent, which already had a stake in Studio 9, increased it after buying shares from another shareholder said the regulator.

The statements did not give financial details of the deal.

Categories: Creativity, Entrepreneurship, HR & Organization, Strategy

Tags: animation company, China, Chinese, deal, equity stake, financial details, market regulator, purchase, State Administration for Market Regulation, Studio 9, Tencent Holdings'