CMGE refutes report that it plans to sell stake to TikTok parent
Chinese mobile gaming firm CMGE has said it is not in talks to sell a stake to TikTok-parent ByteDance, refuting an earlier Reuters report. Earlier, Reuters had reported that ByteDance plans to buy part or all of the 27.6% CMGE stake held by Fairview Ridge Investment. The stake is controlled by CMGE Chairman Jian Xiao and Vice Chairman​ Hendrick Sin.