Kakao Corp. (KOSE:A035720) is considering a bid for, NXC Corporation that controls NEXON Co., Ltd. (TSE:3659), a company spokesman told Reuters. Kakao's potential bid comes after sources told Reuters earlier that Tancent Holdings is also considering a bid for NXC.

Kakao has internally reviewed whether to participate in the bid for NXC but has not yet reached a decision, Lee Yoon-kun, a spokesman for Kakao Corp, said. Nexon Founder Kim Jung-ju plans to sell a controlling 98.64% stake in NXC. The Kakao spokesman said the company had not picked a financial advisor for the bidding.

A spokeswoman for NXC Corp declined to comment.