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Tencent Targets About $14.5 Billion in Divestments, FT Says

Bloomberg business news
WATCH: Tencent reportedly has set a soft target of divesting about $14.5 billion of its $88 billion listed equity portfolio. Charlotte Yang reports.Source: Bloomberg
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Tencent Holdings Ltd. has set a soft target of divesting about 100 billion yuan ($14.5 billion) of its $88 billion listed equity portfolio this year as it shifts strategy, the Financial Times reported, citing two unidentified people familiar with the matter.

Food-delivery service Meituan is among the assets that are in the pipeline for divestment, the paper reported. A reduction in the stake could ease pressure from anti-monopoly regulators.