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Tencent Says Meituan Stake-Sale Report Is Not Accurate
2022.08.17 17:34
Tencent Says Meituan Stake-Sale Report Is Not Accurate
(Bloomberg) — Tencent Holdings (OTC:TCEHY) Chief Strategy Officer James Mitchell said a report that the company intends to sell all or much of its $24 billion stake in food delivery giant Meituan (HK:3690) was incorrect.
Reuters reported Tuesday that the social media giant has engaged financial advisers in recent months on ways to execute the sale of a roughly 17% stake, in order to appease state authorities that have been working to curb the influence of tech industry leaders.
The report “is not accurate,” Mitchell told analysts on a post-earnings conference call.
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