Tencent denies $15 billion buyout rumors for The Finals publisher Nexon

Tencent‘s grip over the mobile gaming space is vast, with hits spanning from Call of Duty: Mobile to Pokémon Unite. Although the publisher has at least four divisions under its wing, new rumors claim that the company has an interest in Nexon. Despite a heavy circulation of hearsay over the last few days, Tencent is now setting the record straight.

In a new statement issued to Reuters, Tencent formally expresses that it isn’t actively pursuing an acquisition of The Finals publisher Nexon. After initial reports that Tencent is supposedly seeking to purchase at least 40% of shares in Kakao Mobility, a South Korean Uber rival, Bloomberg claimed that the company had been having early discussions for a stake in Nexon.

Bloomberg‘s sources allege that Tencent is reaching out to the late family of Kim Jung-ju, Nexon’s founder, with Kim’s family reportedly conversing with advisers and family members about their next moves. The potential deal makes sense for the pair, as both companies share success with last year’s Dungeon & Fighter Mobile, a free mobile game with stylized beat ’em up action. In just 30 days of launch, the game accumulated over $270 million in revenue.

Nexon, whom’s market worth is an estimated $15 billion, has yet to address these rumors, but the publisher does have a big year ahead. With ownership of Embark Studios, the developer of FPS game hit The Finals, the shooter is gearing up for its first eSports major in Stockholm later this year. It also just launched a seventh seasonal update, which is receiving great fanfare from newcomers and returning players alike.

Alongside it, Embark Studios’ next game is coming, with an ARC Raiders release date locked in following its appearance at Summer Game Fest. Other Nexon projects include The First Descendent, a divisive action RPG that continues to find success despite its highly maligned microtransactions and gameplay.

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