Tencent has been negotiating business cooperation and potential investment with MySQUAR, a social network site in Myanmar, the Sunday Times Newspaper reported Sunday.
However, Tencent has not yet made a formal offer, according to Asia-based bankers cited by the report.
MySQUAR, the Myanmar-based company that owns a messaging app and online games, did not perform well after floating on London's AIM market in 2015.
It shares have dropped from 10 pounds ($13.57) to 2.15 pounds, the report noted.
Tencent declined to comment on the cooperation when reached by the Global Times.
