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Tencent tops Facebook in value

November 22, 2017

By Chris Forrester

China’s Internet, broadband and gaming company Tencent’s stock market value has topped Facebook, and has become the first Chinese business to break through the $500 billion mark. On November 21st its value stood at a massive $531 billion (HK$4.15 trillion).

Tencent, in the process, has become one of the five most-valuable companies on the planet, joining Apple, Alphabet/Google, Microsoft and Amazon.

Tencent is one-third owned by South African media conglomerate Naspers (which also owns the Multichoice/DStv broadcasting businesses).  Naspers Chinese holdings have also helped it blossom to a $114 billion market-capitalisation on the Johannesburg stock exchange. Naspers is the largest company in Africa.

Tencent is a 12 per cent investor in ‘Snap’ (Snapchat) and has stakes in gaming companies Riot, Epic and WeGame.

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