Social media giant Tencent Holdings is in advanced negotiations to invest US$100 million in Mumbai-based online fantasy sports platform Dream11, according to Indian media. The report said the Tencent has offered a term sheet for a transaction that could give Dream11 at a pre-money valuation of US$400 million to US$500 million. Tencent and Dream11 did not immediately respond to China Money Network’s emails seeking comments. Founded in 2012, Dream11 is an online fantasy cricket and football gaming platform. A fantasy …

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