Meituan closes down in Hong Kong, Tencent prepares to sell shares
Meituan's shares in Hong Kong fell 10% after rumors that Tencent holdings was preparing to sell all or most of its shares in this Chinese takeout giant.
Reuters explained that the social media giant has hired a financial consultant to evaluate how to sell about 17% of Meituan, which is worth $24 billion. It is reported that Tencent is likely to sell its shares in Meituan through block transactions, which usually takes a day or two to complete.
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whqqq : Tencent said at today's meeting that it would insist on returning value to shareholders, just as it did to JD.