Tencent (TCEHY) shares fell almost 4% on June 27 after its largest shareholder announced a plan to shrink its stake. Tencent is one of China’s top technology companies alongside Alibaba (BABA), Baidu (BIDU), and JD.com (JD). It runs a diversified business spanning video game publishing, social media, and cloud computing. Prosus to Reduce Stake in Tencent The Dutch multinational conglomerate Prosus (PROSY) plans to sell some of its shares in Tencent to raise money to fund its stock repurchase program. Prosus owns a stake of 28.9% in Tencent. The shareholder has not revealed the size of the sale or the timing of the disposal.
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Tencent (PK) (USOTC:TCEHY)
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