Report says Tencent in talks to bid for Supercell

China's internet giant Tencent Holdings Ltd is said to be in talks to buy control of one of the top-earning game developers in the world from SoftBank Group Corp, in a deal worth $5 billion.

The Wall Street Journal reported that Tencent is in discussions to buy a majority stake in Finnish game maker Supercell. The discussions are at an early stage and it isn't clear if SoftBank, which owns 73 percent of Supercell, is talking to other potential bidders, said the newspaper citing unidentified sources.

Supercell, founded in 2010, is valued at $5.25 billion. According to Chinese media reports, citing people who are familiar with the matter, Tencent has already applied for a $4 billion loan from banks to prepare for the possible deal.