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Angry Birds maker Rovio says IPO possible in future

Reuters  |  HELSINKI 

HELSINKI (Reuters) - Finnish mobile game and animation studio Rovio, maker of the Angry Birds game, said it could list on the stock exchange in the future, while declining comment on media report that China's Tencent Holdings was looking to acquire the company.

Technology site The Information, citing unnamed sources, reported that Tencent was exploring possible $3 billion bid for and also said may consider an IPO.

"We and our shareholders regularly assess different alternatives to further develop Rovio," the company said in an emailed statement on Friday when asked about The Information report.

"stock exchange listing at some point in the future could be possible in order to support the continued strong growth of and its strategic targets. However, and its owners have not made any decisions regarding possible IPO," the company said.

Tencent was not immediately available for comment.

Following years of falling earnings, job cuts and divestments, returned to profit last year as the release of its Angry Birds movie helped boost game sales.

The company is 70-percent owned by Kaj Hed, the uncle of the company's co-founder Niklas Hed.

Last year, Tencent bought majority stake in Finland's other prominent game maker, Supercell, in deal valued at $8.6 billion.

(Reporting by Jussi Rosendahl, additional reporting by Cate Cadell in Beijing; Editing by Susan Fenton)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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