Tencent’s headquarters in Shenzhen, Guangdong province, on Dec. 2, 2021. Photo: VCG
Chinese tech giant Tencent Holdings Ltd.’s decision this week to sell part of its stake in Singapore’s Sea Ltd. came not due to local regulatory risks, but simply to cash out on an investment, a source close to the deal told has told Caixin.
The sale on Tuesday, which tanked New York-listed shares of the Southeast Asian gaming and e-commerce giant, brought speculation that anti-monopoly concerns had forced Tencent’s hand.
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