The investment is thought to be in response to Alibaba's acquisition of AutoNavi last month as the Chinese internet land grab continues.
Internet company Tencent is set to acquire an 11.3% stake in China-based digital map provider NavInfo for $187m, according to a stock market filing.
The deal will follow the $1.4bn purchase last month of another China-based navigation company, AutoNavi, by e-commerce company Alibaba, Tencent’s main rival in the Chinese internet space.
Tencent will buy 78 million shares from China Siwei Surveying & Mapping Technology, the state-owned business that is NavInfo’s parent company, leaving Siwei with a 12.6% share. Siwei…
