March 29 - 15:03
18D
China's Tencent Music announces $1bn buyback
China's Tencent Music Entertainment Group announced has revealed its plans to buy back up to $1 billion worth of shares over the next 12 months in its biggest buyback in history. The company's decision was announced after U.S. securities regulator adopted stricter measures for foreign companies listed on American stock exchanges. As a result, Tencent lost about a third of its stock value.
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