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China takes 'golden shares' in Alibaba, Tencent units - FT

Credit: REUTERS/Thomas Peter

January 12, 2023 — 08:36 pm EST

Written by Rishabh Jaiswal for Reuters ->

Jan 13 (Reuters) - The Chinese government is moving to take "golden shares" in the local units of Alibaba Group Holding Ltd 9988.HK and Tencent Holdings Ltd 0700.HK, as it formalises a greater role in overseeing China's most powerful tech companies, the Financial Times reported on Friday.

(Reporting by Rishabh Jaiswal in Bengaluru; editing by Uttaresh.V)

((rishabh.jaiswal@thomsonreuters.com;))

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