Tencent to give US$16bn payout of JD.com shares
Tencent Holdings Ltd (騰訊) plans to distribute more than US$16 billion of JD.com Inc (京東) shares as a one-time dividend, representing a near-retreat from the Chinese e-commerce firm that is stoking concerns it is to pull away from other marquee investments. The surprise move to divest most of its stake in China’s No. 2 online retailer comes as Beijing punishes the country’s tech giants for monopolistic behavior, including maintaining closed ecosystems that favor certain companies at the expense of others. Tencent’s handout might buy goodwill with the government, which has pushed f...
Source: taipeitimes.com