Meituan shares skid on report Tencent to sell most or all of its holdings

Shares of Hong Kong-listed food delivery service Meituan /zigman2/quotes/205161725/delayed HK:3690 +4.04% fell as much as 10% after Reuters reported that shareholder Tencent Holdings /zigman2/quotes/204605823/delayed HK:700 +3.04% /zigman2/quotes/207908563/delayed TCEHY -2.74% was planning to sell all or a bulk of its $24 billion stake. The report, citing four unnamed sources, said Tencent was selling to placate domestic regulators. China has been tightening regulation on the company's technology sector in response to concerns over antitrust and privacy. Tencent shares slipped 1%.

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Add to watchlist HK:3690

Meituan

HK : Hong Kong

$ 121.00

+4.70 +4.04%

Volume: 20.18M

Sept. 22, 2023 3:41p

P/E Ratio

81.59

Dividend Yield

N/A

Market Cap

$746.29 billion

Rev. per Employee

$3.05M

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Tencent Holdings Ltd.

HK : Hong Kong

$ 312.20

+9.20 +3.04%

Volume: 17.91M

Sept. 22, 2023 3:41p

P/E Ratio

13.69

Dividend Yield

0.77%

Market Cap

$2929.12 billion

Rev. per Employee

$6.07M

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Add to watchlist TCEHY

Tencent Holdings Ltd. ADR

US : U.S.: OTC

$ 38.30

-1.08 -2.74%

Volume: 3.54M

Sept. 21, 2023 3:59p

P/E Ratio

13.16

Dividend Yield

0.70%

Market Cap

$374.40 billion

Rev. per Employee

$774,528