News Snapshot:
Tencent to sell its $24 billion stake in food delivery giant Meituan to appease the Chinese government In the past two years, China began to crack down on tech companies, wiping billions of dollars of value from its most prominent companies including Alibaba. Then in May, the Chinese government showed signs of easing its crackdown on the country’s tech sector. But little has changed. As we reported last month, Alibaba founder Jack Ma was forced to give up control of China’s fintech giant Ant Group as part of the effort to move away from affiliate Alibaba Group Holding “after more...
