Tencent Falls Further as Top Shareholder Looks to Pare Stake morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
(Reuters) - Chinese software giant Tencent Holdings said on Monday it noted an announcement from two of its shareholders, South Africa's Naspers Ltd a.
Prosus NV is planning to sell more of its US$134 billion stake in Chinese Internet giant Tencent Holdings Ltd (騰訊) to finance a buyback program, reversing a pledge to hold on to the full shareholding despite regulatory uncertainty.
Tencent yesterday erased earlier gains in Hong Kong as investors pondered the extent to which Prosus, the Chinese company’s biggest shareholder, will unload its stock. The shares fell as much as 2.5 percent and closed 1.56 percent lower.
“We will keep selling Tencent shares to buy back our own shares,” Prosus chief executive officer Bob Van Dijk said in an interview. “It’s actually a
EUROPEAN MIDDAY BRIEFING: Stocks Steady as Eurozone Inflation Hits 10-Year High morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
Apr 16, 2021
SoftBank Group Corp. is investing $450 million in Swiggy, the second funding for the Indian food delivery startup in as many weeks as capital floods the world’s fastest growing internet arena.
The funding came from Masayoshi Son’s Vision Fund 2, a person familiar with the matter said. The financing awaits approval from Indian antitrust regulators, the person added, asking not to be identified talking about a private deal.
Bangalore-based Swiggy competes with multiple food delivery startups including fellow unicorn Zomato, backed by Ant Group Co. and Tiger Global, and the food delivery arm of Amazon.com Inc’s India unit, which recently unveiled its service to Prime members in dozens of zip codes in the city of Bengaluru, formerly Bangalore.