Tencent to increase investments abroad, smart retail

Monday, 20. January 2020 08:01

Tencent Holdings Limited is aiming to increase its investments outside of China and will focus more on smart retail and payment platforms, the company's President Martin Lau stated.

He made the announcement in a speech that was published on Monday. Tencent invested in 800 firms, among which 160 have a market value of more than $1 billion, Lau revealed.

Last month, the holding company agreed to buy a 10% stake in Universal Music Group (UMG) from the French media conglomerate Vivendi S.A.

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Breaking the News / MS