TikTok owner ByteDance is allegedly in talks to sell Mobile Legends: Bang Bang developer Shanghai Moonton Technology Co to Savvy Games Group.
ByteDance acquired the studio in 2021.But Bloomberg People close to the matter are now reported to say talks are continuing despite the rumours. Saudi Arabia's Public Investment Fund (PIF), which owns Savvy, is supposedly not enough cash for new investment after years of spending in the gaming and esports sector.
Neither ByteDance nor Savvy responded to press requests for comment, and Bloomberg sources acknowledged that the talks may not lead to a sale.
Saudi Arabia's Public Investment Fund (PIF) faces controversy over… alleged human rights violations in the country. He has rates in Nintendo, Capcom and NexonTake two Activision Blizzardand Koei Tekmo.
He is also included in the investor package. acquisition of Electronic Arts in partnership with the investment firm Affinity Partners, founded by Donald Trump's son-in-law Jared Kushner.
President The Communications Workers of America (CWA) recently wrote a letter to the Federal Trade Commission (FTC) and the Committee on Foreign Investment in the United States (CFIUS). calling for a comprehensive review of the recently announced buyout of Electronic Arts (EA).
