Tencent's divestment may indicate that there may be more sales in the technology blow as Tencent sh

reducing its holdings from 21.3 per cent to 18.7 per cent and its voting power to below 10 per cent. The announcement comes two weeks after Tencent said it would sell a US$16 billion stake in JD.com aligning with the government’s continued antitrust campaign as it seeks opportunities in new areas. The divestment has raised questions about Tencent’s sprawling investments across a wide variety of companies. These holdings amount to US$130 billion Kanterman added. Tencent announced on Tuesday evening that it would sell a US$3 billion stake in Sea China’s second-largest e-commerce company after Alibaba Group Holding the owner of the South China Morning Post The move by tech giants to offload large stakes in areas outside their core businesses is seen by some analysts as means of appeasing regulators amid a sweeping crackdown on the tech sector that has been ongoing for more than a year. UOB Kay Hian analyst Julia Pan also noted Alibaba’s recent divestment of shares in microblogging platform Weibo. Kanterman said. Morningstar analyst Ivan Su noted that Sea is no longer cheap and Tencent has realised a tenfold return on its investment. according to the on-demand delivery firm’s filing for the quarter ended September. Tencent to offload its US$16 billion stake in e-commerce player JD.com Southeast Asia’s most valuable internet company that operates e-commerce platform Shopee and gaming arm Garena according to the social e-commerce company’s annual report in April 2021. Tencent also owns 19.4 per cent of Meituan there’s a big gain. So it makes sense for Tencent to consider exiting businesses such as Sea and JD.com that check those boxes. Tencent's divestment may indicate that there may be more sales in the technology blow as Tencent shifts its focus to new technologies. Plans from Tencent Holdings China’s largest social media and video gaming company starting with an investigation into Alibaba. Last year Alibaba Meituan were hit with large fines over platform exclusivity requirements. Tencent has also seen increased scrutiny. The State Administration for Market Regulation last year quashed a merger of Douyu and Huya two video game live-streaming platforms controlled by Tencent to sell its stake in Singapore-based e-commerce giant Sea Limited hot on the heels of offloading JD.com stock has lead to investor fears of greater divestment in mature technology firms