China long celebrated Tencent as a national champion. Now the tech giant is getting a taste of what it’s like to be on the other side of government patronage.
The Chinese Internet giant, best known for its popular games and ubiquitous messaging services, has shed more than $150-billion in market value since a January peak.
Alibaba Group founder Jack Ma has used his first visit to South Africa to encourage governments in Africa to support small businesses to address the crippling challenge of unemployment.
The Chinese Internet giant, in which South Africa’s Naspers holds a 31.2% stake, has tumbled 25% from its January peak, erasing about $140-billion of market value.
Walmart is close to finalising a deal to buy a majority stake in India’s leading e-commerce company for at least $12bn and may complete the agreement in the next two weeks, according to people familiar with the matter