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Tencent sells $3.01 billion stake in Singapore tech group Sea -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Tencent’s logo was seen in Wuzhen Zhejiang, China at the World Internet Conference (WIC), 23/11/2020. REUTERS/Aly Song

(Reuters) – Chinese gaming and social media firm Tencent Holdings Ltd (OTC) Ltd has sold a stake of $3.01 trillion in Singapore-based gaming company Sea Ltd.

According to Reuters, Tencent bought 14.5 million shares of Sea Ltd for $208 per share in a block-trade. On Tuesday, Tencent stated that it would lower its voting power at the U.S.-listed company to less than 10%.

Reuters asked Sea and Tencent for comments but they did not reply immediately.

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