Has Tencent lost its X-factor?
The sale of 96-million shares by Prosus had investors in the Chinese tech giant all riled up. It’s a telling sign, say some
20 April 2023 - 05:00
Has Tencent gone ex-excitement? That’s not quite the same as ex-growth but is probably synonymous with ex-exciting growth. After 20 years of eye-popping expansion, it’s becoming difficult to avoid the feeling that Tencent is going to be a tech plodder for the rest of its life.
Ten, even five years ago, it’s unlikely that evidence of Prosus selling part of its Tencent holding would have triggered the sort of price slump seen earlier this month. Investors are clearly skittish. ..
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