The Federal Trade Commission is likely to file suit to block Microsoft’s $69-billion takeover bid for Activision Blizzard, Politico reported.
Browsing: Tencent
Interim profit slipped 93% as the technology investor increased funding of its businesses and took a knock from Tencent.
Naspers shares were trading more than 5% lower on Tuesday after the JSE-listed technology investor warned about a big slide in earnings.
Tencent Holdings on Wednesday said it will distribute most of its stake worth R350-billion in food delivery firm Meituan to its shareholders.
Naspers has rubbished an report that it is in talks with a Chinese investment company to sell all its remaining shares in Tencent.
Tencent is on track to close at its lowest point in five years as investor sentiment turned negative over China’s macro outlook.
Investors have been spooked by new US export control measures aimed at slowing Beijing’s technological and military advances.
Tencent Holdings is resetting its M&A strategy to put more focus on buying majority stakes mainly in overseas gaming companies.
Tencent has lost its title as China’s biggest company, the latest sign of how far regulatory risk and dimming growth prospects have set back the country’s tech industry.
Tencent Holdings’ buyback spree is failing to revive investor sentiment over the online gaming giant, whose shares are languishing near a 2018 low.