Tencent Holdings Limited (SEHK:700) is in talks to join group bidding which includes ANTA Sports Products Limited (SEHK:2020) and FountainVest Partners in pursuing a takeover of Amer Sports Corporation (HLSE:AMEAS) people familiar with the matter said. Tencent is considering joining the consortium led by Anta Sports Products Ltd as a minority investor, according to the people mentioned above. The buyer group are also in talks with other potential minority partners, though no firm agreements have been reached, the people said, asking not to be identified because the information is private.

Tencent, Anta Sports Products and FountainVest Partners aim to reach an acquisition agreement as soon as the next several weeks, according to the people. Any deal could still face delays or fall apart, the people said. A spokeswoman for Tencent and an external representative for the Chinese buyer consortium declined to comment.