One of the oldest and largest investors in Tencent Holdings Ltd. plans to sell more than $10 billion worth of shares in the Chinese internet giant, partially cashing out of one of the world’s most lucrative tech bets at a time of turbulence for the sector. Naspers Ltd., a South African media and internet firm, said Thursday it plans to sell 190 million shares of Tencent, cutting its stake in the company to 31.2% from 33.2%. Those shares are worth about $10.6 billion based on Tencent’s closing share price.

Source: Wall Street Journal March 22, 2018 10:08 UTC