Tencent vows to ‘distribute’ $20.3bn Meituan shares to investors Tencent Tencent has vowed to give its shareholders $20.3bn (£17.4bn) worth of shares in Chinese food delivery firm Meituan as it seeks to reduce its holdings in China’s tech sector. The Shenzhen conglomerate’s “special dividend” comes as its sales dropped two per cent year-on-year, to £16.6bn, on the back of a five per cent drop in [...]
Chinese tech giant Tencent snaps up stake in business finance firm Previse Tencent Chinese tech giant Tencent has snapped up a stake in London business finance firm Previse as it accelerates its push into UK fintech.
London fintech Jeeves gets Tencent backing in $180m funding round fintech boost London corporate card fintech Jeeves has won the backing of Chinese tech giant Tencent in a fresh $180m funding round announced today.
Chinese tech giant Tencent reports slowest revenue growth amid Beijing crackdown March 23, 2022 The world’s biggest gaming firm Tencent posted its slowest sales growth this morning amid advertising decline and a crackdown on tech by Beijing.
Tencent-backed energy researcher snags £33m in race for fusion power February 14, 2022 Fusion energy research company First Light Fusion has rounded off its Series C with £33.2m, after Chinese technology giant Tencent waded into the fundraiser. Braavos Capital joined Tencent as a new investor, as fusion energy pulls in capital-heavy firms with the lure of a limitless, and carbon free source of energy. Existing investors include IP [...]
Tencent dishes out over $16bn to shareholders in JD.com windfall December 23, 2021 Chinese tech giant Tencent is set to dish out $16.4bn to its shareholders in the form of the majority of its stake in JD.com. The move will see the gaming and social media group cut its holding from 17 per cent to just 2.3 per cent. It means Tencent will step down from the helm [...]
Tencent leads $96m funding round into Dublin restaurant tech firm Flipdish January 13, 2022 Tencent has led a $96m funding round into Dublin-based restaurant tech firm Flipdish which values the firm at $1.25bn.
Tencent shares fall ten percent amid crackdown fears August 3, 2021 Chinese tech firm Tencent saw shares fall by some 10 per cent on Tuesday after the Chinese government labelled video games “spiritual opium.” An article posted by the state-run newspaper, Economic Information Daily, warned that a “new type of electronic drug” was “advancing by leaps and bounds”. Fears that Beijing might crackdown on online gaming [...]
Tencent ends all exclusive music rights deals after Beijing crackdown August 31, 2021 Tencent has ended all its exclusive music licensing agreements with record labels across the world after Chinese regulators ordered it to do so last month, as part of an intensifying crackdown on the country’s tech giants. In a statement released on the Chinese tech conglomerate’s official WeChat page, Tencent said all parties involved in the [...]
Tencent shares fall after Beijing orders end to exclusive music rights deals July 26, 2021 Shares in Tencent have fallen after China ordered the company to end exclusive music licensing agreements with record labels across the world. The move is said to be aimed at tackling the technology giant’s dominance of online streaming in the country. They must cease engaging in any of these deals in the future and any [...]