Tencent is giving away $16 billion of its stake in JD.com
Tencent (As part of the deal, Tencent President Martin Lau will step down as a director of JD.com, according to the filing.The two companies will “continue to maintain their mutually beneficial business relationship,” including their ongoing strategic partnership agreement, Tencent and JD.com said in separate statements on Thursday.Tencent’s stock surged more than 4% in Hong Kong on Thursday, while JD.com’s shares tumbled 7%.
