Tencent to divest Meituan stake as dividends
By Cheng Yu |
chinadaily.com.cn |
Updated: 2022-11-16 19:35
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Chinese tech company Tencent Holdings said on Wednesday it would distribute its $20.3 billion stake in online food delivery firm Meituan as dividends.
It will transfer 958.12 million shares in Meituan, equal to 90.9 percent of the Class B ordinary shares it held in the company, Tencent said.
Meituan said in a separate statement Tencent President Martin Lau Chi Ping has resigned as a board member.
