Here sells stake to Tencent, NavInfo for China expansion

(Telecompaper) Map services provider Here has attracted three new investors to support its expansion in China. Chinese mapping company NavInfo, internet services giant Tencent, and Singapore-based investment firm GIC are jointly acquiring a 10 percent stake in Here, subject to regulatory clearance. Here's three existing three shareholders Audi, BMW, Daimler will see their stakes diluted by an equal amount after the new investment. No financial details of the new investment were disclosed.