FILE PHOTO: A Tencent logo is seen during the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, November 23, 2020. REUTERS/Aly Song
(Reuters) - Chinese gaming and social media company Tencent Holdings Ltd on Wednesday sold a stake worth $3.01 billion in Singapore-based gaming and e-commerce firm Sea Ltd.
Tencent sold 14.5 million shares in Sea Ltd at $208 each in a block trade, according to a term sheet reviewed by Reuters. It had said on Tuesday it would reduce its voting power in the U.S.-listed firm to under 10%.
Already a subscriber? Log in.
Unlock 30% Savings on Ad-Free Access Now!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
