Tencent's share price is supported by buybacks, offsetting the impact of major shareholders' reduction.
Investing in others is not as good as buying your own? Tencent reduces holdings in Weimob and UBTECH, increases buyback efforts
$TENCENT(00700.HK) $WEIMOB INC(02013.HK) $UBTECH ROBOTICS(09880.HK) Industry insiders believe this may reflect a shift in the company management's thinking. Is investing in others worse than buying your own? Tencent Holdings (00700.HK) recently significantly reduced its holdings in Weimob Group (02013.HK) and UBTECH (09880.HK). After the reduction, Tencent's stake in both companies fell below 3%. From January 7 to January 10, Tencent repurchased approximately HKD 1.5 billion for four consecutive days, and before January 6...
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