ByteDance to sell its gaming unit to Saudi group for ₹56,000 crore

TikTok owner ByteDance has agreed to sell Shanghai Moonton Technology, the studio behind the popular game Mobile Legends: Bang Bang, to Riyadh-based gaming firm Savvy Games Group, owned by Saudi Arabia's Public Investment Fund, the companies said on Friday. Reports said the deal values Moonton at over $6 billion (over ₹56,000 crore). Savvy is a global games and e-sports company.