Tencent targets $14.5 bn in divestments of listed equity portfolio: Report

Tencent Holdings Ltd. has set a soft target of divesting about 100 billion yuan ($14.5 billion) of its $88 billion listed equity portfolio this year as it shifts strategy, the Financial Times reported, citing two unidentified people familiar with the matter.
 

Food-delivery service Meituan is among the assets that are in the pipeline for divestment, the paper reported. A reduction in the stake could ease pressure from anti-monopoly regulators. An email to a Tencent spokesperson in the US wasn’t immediately returned. 
 

Beijing since late 2020 has worked to curb the influence of tech industry leaders from Tencent to Alibaba Group