Breaking: Tencent $300Millions Invested DST, Investor of Facebook

Tencent_QQIf you are still wondering who is going to buy ICQ: Digital Sky Technologies (DST, owner of Russia’s, ProfMedia (owner of Rambler) or Tencent (owner of QQ). Here is the news which might let you re-think: Tencent just invested $300m into DST.

The agreement we just received says:

The Board wishes to announce that on 12 April 2010, the Investor, a wholly-owned subsidiary of the Company, entered into the Subscription Agreement with DST. Pursuant to the Subscription Agreement, the Investor agreed to subscribe for, and DST agreed to issue and allot to the Investor, up to 8,114 Ordinary Shares for an aggregate consideration of up to US$300,002,113 (approximately HK$2.328 billion).

Upon completion of the subscription of all 8,114 Ordinary Shares, the Company would, through the Investor, hold approximately a 10.26% economic interest in DST.

The most interesting part is, if you did not know the background of DST:

DST was founded in 2005 and is one of the largest Internet companies in the Russian-speaking and Eastern European markets. It is also one of the leading global investment groups primarily focused on Internet-related companies, holding stakes in global Internet companies such as Facebook and Zynga.

What do you think? Tencent’s Penguin is growing….