Technology news site The Information, citing unnamed sources, reported Tencent was exploring a possible $3 billion bid for Rovio and also said Rovio may consider an IPO.
"We and our shareholders regularly assess different alternatives to further develop Rovio," the company said in an e-mailed statement on Friday when asked about The Information report.
Tencent was not immediately available for comment.
Following years of falling earnings, job cuts and divestments, Rovio returned to profit last year as the release of its Angry Birds movie helped boost game sales.
The company is 70% owned by Kaj Hed, the uncle of the company's co-founder Niklas Hed.
Last year, Tencent bought a majority stake in Finland's other prominent game maker, Supercell, in a deal valued at $8.6 billion.