Tencent Weighs Music Spin-Off, Invests in Europe
Tencent Holdings Ltd. said it is considering spinning off its online music division for a separate listing. Meanwhile, it has made two major new investments in Europe in the gaming and financial technology (fintech) sectors.
The diverse range of activities reflects Tencent’s own diversification from its roots as an online gaming and social networking company to also include finance, e-commerce and entertainment. On Wednesday, the company announced its profit nearly doubled in the fourth quarter of 2017, as its revenue rose by a strong 51% to 66.4 billion yuan ($10.5 billion).
- 1Veteran China Banker Warns of 'Belt and Road' Risks
- 2Update: China Records First Monthly Trade Deficit in 13 Months
- 3College Told to Suspend Executive MBA Course Over Lax Oversight
- 4China to Open Iron-Ore Futures Market to Foreign Investors in May
- 5After Outcry, Weibo Does U-Turn on Gay Content Ban
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas