News Snapshot:
Chinese tech giant Tencent is exploring whether regulators will require it to create a financial holding company to house is fintech business, a top executive said on Wednesday. The comments come after Bloomberg reported last week that Chinese authorities are considering requiring Tencent to include WeChat Pay , its ubiquitous mobile payments service, in a new financial holding company. “We have been continuously exploring the establishment of the financial holding company and looking at the regulation with respect to that and whether there is a requirement for that,” Tencent President Martin Lau said on an earnings call with media Wednesday,...
