Tencent is looking into shedding more of its huge investment portfolio as the Chinese company tries to fund a series of share buybacks and refocus its growth strategy, people familiar with the matter said
Tencent Holdings Ltd. is looking into shedding more of its huge investment portfolio as the Chinese social-media and videogame company tries to fund a series of share buybacks and refocus its growth strategy, people familiar with the matter said.
The technology giant, which owns stakes in some of China’s largest internet companies, has recently completed a regular review of its sprawling portfolio and identified its priorities for possible stake sales based on the returns these investments have generated, the people said. Potential disposals could include online real-estate brokerage KE Holdings Inc., food-delivery company Meituan and ride-hailing giant Didi Global Inc., they added.