Martin Lau, Tencent’s (TCEHY) President stated during the Q2 conference call that the company’s “share price is very undervalued,” indicating that it could continue to buy back its stock. However, it has denied selling any stake to fund its share repurchases, Bloomberg reported.  Notably, several media reports stated that China's largest internet and technology company is considering selling some of its investments in order to fund ongoing buybacks and growth. In response to these reports, Tencent’s spokesperson told Bloomberg that there is no need to unwind its investments and free up cash. Further, there is no timeline for when the company plans to divest its investments.
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