Categories
Business Tech

Tencent Sells Giant Stake in JD.com – Dropping its ECommerce Share

Tencent is a giant in the world of Chinese technology and beyond. Today they have announced that they will be selling most of its stake in JD.com.

Tencent will reduce is staking from 17% to 2.3%.

The proceeds will help Tencent provide shareholders with a $16.4 billion dividend.

After long being JD’s largest stakeholder, Tencent will give the title to Walmart.

This seems to be a Tencent strategy that has paid off in the long term. Instead of Tencent looking to acquire many companies in adjacent industries – they have decided to acquire minority stakes in a huge number of technology companies globally.

Why?

Its far easy to own more when you own a minority. If Tencent were to acquire more companies – they would have issues with Government and regulator approval.

Categories
Gaming

PUBG Mobile Terminated For All Indian Gamers on October 30th

It has been confirmed that PUBG Mobile will be removed for all Indian users on the 30th October – this accounts for 50 million Indian gamers.

India banned PUBG Mobile Nordic Map: Livik and PUBG Mobile Lite, along with over 100 apps with links to China on September 2.