Tencent Downplays Offloading Meituan: It Doesn't Mean Strategic Partnership Abandoned

e confirms Tencent is stepping up an exit from its vast internet portfolio, following the similar action it made to JD. Last December, Tencent unveiled a plan to distribute 457.3 million JD’s Class A shares worth of HK$127.69 billion ($16.37 billion) and bring down its stakes in JD from 17% to 2.3%. In early January, It disclosed to start divesting an aggregate of 14,492,751 Class A shares of Sea Limited, cutting equity interests in the most valuable listed company in Southeast Asia from 21.3% to 18.7%. Reports in August said Tencent was weighing to divest all or much of its stakes in Meituan, citing the government’s intention to curb the internet giants’ power.

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