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06:06a TENCENT : Letv Mobile Wins Financing Led by Tencent Holdings
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Tencent : Letv Mobile Wins Financing Led by Tencent Holdings

05/29/2015 | 06:06am US/Eastern

BEIJING, May 29, SinoCast -- Insiders from institutional investors said that Letv Mobile has completed first round financing reaching USD 400 million led by Tencent Holdings, lifting up estimated value to more than USD 4 billion. Earlier, president responded to rampant talks relating to financing of USD 300 million, saying that the specific value is not at least USD 300 million, followed by other institutional investors. Letv Mobile, founded on January 28 with president being former vice president of Lenovo Group and vice president from MEIZU, having teams of thousands of people.

© Sinocast, source Sinocast Beats

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