News Snapshot:
FAST FIVE: Chinese Tech Giants Tumble On Report Tencent To Sell $24BN Meituan Stake To Appease Beijing The social media giant has engaged financial advisors in recent months on ways to execute the sale of a roughly 17% stake, Reuters reported citing two sources, adding that Tencent is seeking to kick off the sale within this year if market conditions are favorable. The planned sale comes against the backdrop of China's sweeping regulatory crackdown since late 2020 on technology heavyweights that took aim at their empire building via stake acquisitions and domestic concentration of market power. That crackdown, which has...
