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- China's campaign to rein in rival giants like Alibaba Group Holding Ltd (NYSE:BABA) and Meituan (OTC:MPNGY) has prompted Tencent Holdings (OTC:TCEHY) to adopt a more subtle investment strategy by focusing on overseas expansion, Financial Times reports.
- As it navigates a murky regulatory landscape at home, Tencent is expanding abroad, with 44 deals in 2021, up from 17 in 2020, across industries like gaming, e-commerce, health care and fintech.
- Tencent hired aggressively in Singapore to ride the southeast Asian tech wave.
- Related Content: Read What Stifel Thinks Of Tencent's Stake Divestment In JD
- Tencent's largest shareholder, Prosus, just raised $5.25 billion of new debt last week for purposes "including acquisitions and investments."
- Tencent increased its stake in Finnish mobile game company Supercell in the past weeks and invested in Monzo, the British online bank.
- "Going forward, we expect [Tencent] to invest less in platform companies to avoid the impression of forming [alliances] through investments, which is seen as problematic under China's anti-monopoly focus," said Bo Pei, of US Tiger Securities.
- Tencent’s investments in 2021 rose to a record 270 from 174 the prior year, but there are signs of its outlays beginning to slow.
- In the fourth quarter, Tencent’s China deals totaled just one-third of the number done in the first quarter.
- Several venture capitalists admitted that Tencent had recently asked to leave its name off the press releases that start-ups issue to tout new funding rounds, pointing to the recent fundraisings for product design tool Lanhu and enterprise software provider XSKY.
- Tencent denied there had been any change to its investment strategy.
- Price Action: TCEHY shares were up 3.12% at $57.74 midday Wednesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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