DeNA buys into Chinese social networking site

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DeNA plans to buy a majority stake in the operator of a Chinese mobile social networking site. DeNA plans to buy more than 50% in UK firm Waptx, which operates China’s largest mobile social networking site with a local partner. DeNA will buy 8.73 million shares in the company through a private placement.

DeNA plans to use the portal site’s content and expertise to expand its own social networking business. DeNA already operates a mobile social networking site in China, but has less than 1 million subscribers while the Waptx service has about 9 million users.