A man walks past a sign for Tencent, the parent company of Chinese social media giant WeChat, outside the Tencent headquarters in Beijing. Tencent has already seen collateral damage from the new regulations, though investors have shrugged this off, pumping up the stock even as Alibaba was punished. — AFP
Pony Ma’s Tencent Holdings Ltd has been put on notice.
Asia’s largest conglomerate was censured by China’s antitrust watchdog on Friday as Beijing expands a crackdown that began with Jack Ma’s online empire.
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