In this sense, the 5% shareholding starts to look a little like Nintendo's minority position in its mobile gaming partner DeNA; a shareholding significant enough to indicate its seriousness about the business relationship, rather than a straightforward investment. That would be par for the course for Tencent; its arrangements with Activision Blizzard (for Call of Duty Online) and with Bluehole (for PUBG) essentially run along the same lines, with a fairly substantial shareholding serving to underline a major deal to bring an online franchise into the Chinese market. Thus far, it's possible to frame everything Tencent has done as being designed to lock down relationships with major companies overseas in order to use them for competitive advantage within China. That's made these deals truly win-win for the companies involved; they get an excellent, heavyweight business partner in the tricky Chinese market, and a well-behaved long-term institutional investor into the bargain.