Tencent hands shareholders $16.4 billion windfall in the form of JD.com stake

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Reuters

By Sophie Yu and Scott Murdoch BEIJING/HONG KONG (Reuters) – Chinese gaming and social media company Tencent will pay out a $16.4 billion dividend by distributing most of its JD.com stake, weakening its ties to the e-commerce firm and raising questions about its plans for other holdings. The move comes as Beijing leads a broad regulatory crackdown on technology firms, taking aim at their overseas growth ambitions and domestic concentration of market power. Tencent said on Thursday it will transfer HK$127.69 billion ($16.37 billion) worth of its JD.com stake to shareholders, slashing its holdin…

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