The move reinforces hopes that Beijing is easing a crackdown on the world’s largest mobile gaming arena.
Browsing: Tencent
In a rare show of frustration, Pony Ma said internal reviews this year had exposed corruption and mismanagement at Tencent.
The Federal Trade Commission is likely to file suit to block Microsoft’s $69-billion takeover bid for Activision Blizzard, Politico reported.
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.