BABA

Alibaba Group Holding Limited

84.11
USD
4.55%
84.11
USD
4.55%
73.28 182.09
52 weeks
52 weeks

Mkt Cap 228.63B

Shares Out 2.72B

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Alibaba, JD.com, and Bilibili Fall on Report Tencent to Sell Meituan Stake

Alibaba, JD.com and some of China’s biggest companies saw billions wiped off their value Tuesday following a report that Tencent Holdings was planning to sell all, or a large chunk, of its 17% stake in food delivery company Meituan. While there has been a widespread correction in the China tech sector, it’s unlikely to have triggered the potential sale by Tencent (ticker: 0700.Hong.Kong). More likely it will be to appease Chinese authorities who have taken a tough regulatory stance on the technology sector, issuing heavy fines.

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