Business

Tencent sells $3.01 bln stake in Singapore tech group Sea

Chinese gaming and social media company Tencent Holdings Ltd (0700.HK) on Wednesday sold a stake worth $3.01 billion in Singapore-based gaming and e-commerce firm Sea Ltd (SE.N).

Tencent sold 14.5 million shares in Sea Ltd at $208 each in a block trade, according to a term sheet reviewed by Reuters. It had said on Tuesday it would reduce its voting power in the U.S.-listed firm to under 10%.