Tencent Holdings Ltd. is examining a possible acquisition of South Korean videogame developer Nexon Co. in a transaction that could value the target at about $15 billion, according to people familiar with the matter. The move would further expand the Chinese internet group’s already substantial gaming portfolio, which includes stakes in titles such as “League of Legends” and “Honor of Kings.” Sources said Tencent has approached the family of the late founder Kim Jung-ju, who control 44.4% of Nexon through holding company NXC Corp. The discussions are described as preliminary, and the parties have yet to agree on terms; there is no certainty that negotiations will lead to a formal bid. News of Tencent’s interest sent Nexon shares up roughly 10% in trading on June 13, reflecting investor optimism that a deal could deliver a premium for shareholders and accelerate Nexon’s push into new gaming segments, including Web3-related projects. Neither Tencent nor Nexon has publicly commented on the talks.