China acquires ‘golden shares’ in tech firms Alibaba and Tencent for control on sector
Edited By WION Video Desk
Published: Jan 15, 2023, 05:22 IST | Updated: Jan 15, 2023, 05:22 IST
In an attempt to extend its campaign to strengthen control over online content, China has acquired "golden shares" in tech firms Alibaba and Tencent, business registration records showed. More than five years ago, Beijing started acquiring these stakes—called the "golden shares"—in private online media companies. The stakes with special rights taken by China are usually about 1% of a firm.
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