News24.com Hong Kong market move fuels speculation that R131bn Tencent stake is being sold


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Tencent Holdings shares worth $7.6 billion (R131 billion) appearing in Hong Kong’s clearing and settlement system has fueled speculation that a large stakeholder may be selling its holdings. About 192 million of additional shares, representing about 2% stake in the Chinese tech giant, were registered on the platform as of Wednesday, according to city’s exchange website . While there are several reasons for a stake to appear, such a move is typically seen as a precursor to selling and investors pointed to its most dominant backer Prosus as the likely culprit. The Dutch e-commerce firm owns a 29% stake in...