back to article Tencent unexpectedly offloads stake in fellow Chinese giant JD.com

While Chinese web giant Tencent has announced an unheralded special dividend: shares in giant Chinese e-tailer JD.com. Tencent acquired around 15 per cent of JD.com in 2014. Now it will divest around 86.4 per cent of that stake – or 457,326,671 shares. The company’s Tencent’s filing [PDF] announcing the deal spells out that 21 …

  1. Anonymous Coward
    Anonymous Coward

    I suspect it's about power

    The problem with mega rich people is that they end up with political sway, and I suspect that the Chinese government is messaging that they will not tolerate anyone wielding their wallets as they can in the Western world to get what they want. You can see that in Russia too - you can apparently get very rich playing along with Putin, but if you get ideas above your station you will quickly find out just how dependent you are on his goodwill..

    1. W.S.Gosset Silver badge

      Re: I suspect it's about power

      > The problem with mega rich people is that they end up with political sway

      Yeah I was taught that too.

      Then I got out into the real world, and after several too many oddities started paying closer attention. And experience gradually beat the lesson into me.

      Actually, it's the other way round.

  2. elsergiovolador Silver badge

    One buck approaches another

    Chinese apparatchiks are increasingly concerned that their comrades' departments are too big and have too much power.

    It must be sad to have some "regulator" title and not advancing in the party ranks while watching comrades soaked in champagne. At one point you have to ask yourself a question - do I still believe in communism or do I want to be soaked in champagne?

    In the end, if comrade is a believer, then it always ends up somewhere in the forest.

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon

Other stories you might like

Biting the hand that feeds IT © 1998–2022