Amidst Beijing’s latest regulatory wave to impose dominion on its tech sector, China’s Big Tech shares drastically dropped on Monday as the country’s watchdogs intend to break down Ant Group Co.’s Alipay, at a speed the U.S. and the European Union cannot fathom or dare to indulge in. Following a Financial Times report stating that Beijing is […]
Tencent
Shares in Shenzhen-based media titan Tencent tumbled on Monday following China’s verdict to restrict its private music licensing deals with record labels around the globe, halting the platform’s efforts to show sovereignty over online music streaming in the country. On Saturday, China’s State Administration of Market Regulations (SAMR) announced that the firm is not abiding […]
Tencent revealed on Monday plans to acquire British video game company Sumo Group in a $1.27 billion deal, raising Sumo’s last closing price. The Chinese titan already owns 8.75 percent of the company’s stake, and with this purchase it will increase Sumo’s last closing price by offering a premium 43 percent rise, according to Games […]