Softbank sells stake in game developer Supercell to Tencent

Japanese Internet company Softbank Corp. is selling its stake in Finnish game developer Supercell to Chinese technology firm Tencent in a deal announced Tuesday that values the company at about 10.2 billion. Separately, Nikesh Arora, Softbank's president and chief operating officer, announced his resignation, although he will remain an adviser. He had joined the company from Google in 2014 and was instrumental in the Supercell sale, as well as other Softbank investments, mainly in India and other parts of Asia. Softbank Chief Executive Masayoshi Son said Arora had been picked to succeed him, but Son decided he wanted to do "a few more crazy ideas" and stay at his job for another decade, and that would be too long of a wait for Arora. "Helping Masa begin the transformation of Softbank and sowing the early seeds has been a great experience. I have enjoyed working with Masa and the Softbank team and I look forward to my next challenge," Arora said in a statement.