Date
15 December 2018

Tencent revamps India, Thailand businesses, filing says

Tencent Holdings Ltd. (00700.HK) has agreed to restructure its India and Thailand operations with its partner, MIH Group, it said in a regulatory filing Thursday. After the revamp, Tencent will own 80.1 of the social network business of their joint venture, MIH India Global, and 19.1 percent of the e-commerce business while MIH Group will hold the rest. In Thailand, Tencent will end up with 99.92 percent of the social network business but will not hold any interest in the e-commerce unit. MIH Group will own the e-commerce business but will not have any interest in the social network business, the filing said. MIH Group is controlled by South Africa-based Naspers Ltd.

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