🔒 Financial Times perspective: Naspers associate Tencent pursues quieter investment strategy
Tencent CEO Pony Ma seeks to avoid Beijing’s push against perceived monopolists by targeting expansion overseas.
Tencent CEO Pony Ma seeks to avoid Beijing’s push against perceived monopolists by targeting expansion overseas.
Tencent has been fined in the latest move by regulators to crack down on fintech companies. The scrutiny was triggered by Ant founder, Jack Ma.
Tencent founder Pony Ma’s fortune has fallen the most among China’s ultra-rich since the Chinese regulators crackdown on Big Tech in November 2020.
Tencent ‘benefited from a pandemic lockdown last year but faces scrutiny from Chinese regulators’, reports The Wall Street Journal.
‘Zhang Feng has been investigated for alleged unauthorized sharing of personal data collected by WeChat to an ex-official’, reports The Wall Street Journal.
TikTok owner ByteDance has thrown down the gauntlet in its ongoing feud with Tencent, accusing its rival of anti competitive behaviour.
‘The effort underscores Beijing’s resolve to rein in technology giants seen to be growing too quickly’, says The Wall Street Journal.
Asia’s largest conglomerate Tencent Holdings was fined as Beijing expands a crackdown that began with Jack Ma’s fintech empire.
Naspers on Thursday said it would sell as much as 190 million Tencent shares, equal to 2 percent of Tencent’s total issued share capital, cutting its holdings to 31.2 percent.
Naspers shares have performed well this year, but on a relative basis, they’re quite cheap. Is there plenty of margin for safety? Mark Ingham isn’t so sure.