Tencent takes 5% stake in Tesla

(Telecompaper) Chinese internet company Tencent has paid USD 1.8 billion for a 5 percent stake in Tesla, a published filing has shown. The buy is Tencent's second major US investment after Snap and the second electric vehicle manufacturer in which Tencent has acquired a stake, Recode noted. It led an USD 86 million round in Nio, previously known as NextEV, along with Baidu earlier this month.