Tencent Weighs Stake Sale in Chinese Delivery Giant Meituan

Tencent Holdings Ltd. is trying to promote most or all of its stake in food-delivery big Meituan individuals acquainted with the matter mentioned, as Beijing seeks to curb the facility and affect of the nation’s web giants.

Tencent has held talks with funding banks to discover methods to get rid of no less than a significant portion of its roughly 17% stake in Meituan, one of many individuals mentioned. That stake was price about $24 billion as of Monday’s market shut, earlier than a Reuters report about Tencent’s plan despatched Meituan’s Hong Kong-listed shares tumbling on Tuesday.