Tencent to offload its US$16 billion stake in e-commerce player JD.com

Tencent Holdings said it would distribute most of its shares in JD.com as a special dividend to investors, as China’s dominant social media network made a surprise move to pare back its stake in the country’s second-largest e-commerce platform in response to Beijing’s antitrust demands.The market value of JD.com shares to be transferred is estimated at HK$127.7 billion (US$16.37 billion), according to a Tencent statement issued on Thursday. Shenzhen-based Tencent, previously the biggest…

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