Tencent’s Top Backer to Cut $134 Billion Stake, Scrapping Pledge

(Bloomberg) — Prosus NV is planning to sell more of its $134 billion stake in Chinese internet giant Tencent Holdings Ltd. to finance a buyback program, reversing a pledge to hold onto the full shareholding despite regulatory uncertainty. Most Read from Bloomberg Tencent erased earlier gains in Hong Kong on Monday as investors pondered the … Read more