Tencent to distribute $20.3 bln Meituan stake, as Q3 sales drop
Source: Reuters
HONG KONG, Nov 16 (Reuters) - Tencent Holdings (0700.HK) said on Wednesday it would distribute its $20.3 billion stake in food delivery firm Meituan (3690.HK) in dividend, as it reported a second straight quarterly sales drop, hit by economic slowdown and China's regulatory crackdown.The divestment plan, which Reuters reported in August, comes as the Shenzhen-based tech giant retrenches, shutting some…
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