Tencent turns from purchaser to vendor in financial investment pivot

Chinese web titan Tencent is pivoting from yrs of aggressive stakebuilding to a focus on divestments as it comes below force from investors and Beijing’s the latest antipathy in direction of Big Tech.

As section of an crucial change in approach, the corporation has outlined a tender target of divesting about Rmb100bn ($14.5bn) of its $88bn mentioned equity portfolio this calendar year, according to two men and women acquainted with the subject. This would get position dependent on market place problems and interior earnings targets.

Partial divestments in substantial Chinese companies this sort of as food items shipping support Meituan

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