Game8Z
  • News
  • Game
  • Mobile Games
  • PC/Console Games
  • Entertainment
  • eSports
  • Community
  • KUBET
No Result
View All Result
  • News
  • Game
  • Mobile Games
  • PC/Console Games
  • Entertainment
  • eSports
  • Community
  • KUBET
No Result
View All Result
Game8Z
No Result
View All Result
Home Game Mobile Games

Tencent declines role in Garena’s parent company

in Mobile Games
Share on FacebookShare on Twitter

INTERNATIONAL_ Tencent’s decline in the Sea Group could mark a significant change in business cooperation between the two parties.

Sea Group has announced that it plans to increase CEO Forrest Li’s voting power to 57% from the current 54%. At the same time, it will reduce the voting rights of Tencent investors to less than 10%.

Sea Group also confirmed the decision will be made during the Annual General Meeting on February 14, where shareholders are expected to vote on this in a transparent and fair manner.

Sea is Garena's parent company, Shopee

Sea is Garena’s parent company, Shopee

Li’s voting power in the company will increase as each Class B common share will have voting rights increased from three votes to 15 votes. At the same time, Tencent will convert all of its Class B common shares into Class A common shares, for which it has sent “irrevocable notice” to Sea Group.

Upon completion of the conversion, Li will own all of Sea Group’s Class B common shares. The Board of Directors believes that, as Sea has significantly expanded to become a leading global consumer internet company, it is in the company’s best interest to pursue long-term growth strategies to clarify its capital structure through the proposed changes mentioned above. This was said by the Singapore-headquartered company in a statement.

Tencent is under great pressure from the mainland government

Tencent is under great pressure from the mainland government

Last month, Sea’s e-commerce arm Shopee faced calls for sanctions from the Indian commerce body for allegedly being “of Chinese origin” and claiming that the e-commerce platform This is run by Tencent. This comes just a few months after Shopee was launched in the country.

In the past, the Indian government has banned some Chinese apps, and it has also taken a tough stance against companies heavily backed by mainland investors. Perhaps this is what prompted the action of the aforementioned Sea Group.

Tags: Mobile Games

Related Posts

Female MC Lien Quan revealed the story of ‘cutlery intervention’, beauty refurbishment

Female MC Lien Quan revealed the story of ‘cutlery intervention’, beauty refurbishment

Atelier Marie RPG Remake for Switch, PS4, PS5, PC This Summer

Atelier Marie RPG Remake for Switch, PS4, PS5, PC This Summer

If you only glimpse then you will miss a lot in Legendary Ninja

Compile Heart announces new game in video

Doomsday Last Survivors Zombie-themed SLG Game by IGG ranks top overseas

Having a ‘shield’ like MC Minh Nghi is still helpless when looking at this ‘hot eye’ scene!

Steam removes Tax Heaven 3000 visual novel because of tax returns

King Arthur Legends Rise Action RPG Unreal Engine 5 on mobile

VNG’s blockbuster has an error, gamers can lose all their assets without being able to do anything NPH?

Mobile Game / Browser RPG Yuki Yuna Is a Hero has PS4 version, Switch

  • Entertainment
  • eSports
  • Community
  • News
  • Adv
  • Game
  • Mobile Games
  • PC/Console Games

© 2022 Game8z
Otaku Tin Game Địa ốc Anime Vietsub Agency Quảng cáo xe hay OtakuZ

game k8bet online , 88UU

No Result
View All Result
  • News
  • Game
  • Mobile Games
  • PC/Console Games
  • Entertainment
  • eSports
  • Community
  • KUBET

© 2022 Game8z
Otaku Tin Game Địa ốc Anime Vietsub Agency Quảng cáo xe hay OtakuZ

game k8bet online , 88UU

Tắt quảng cáo [X]

This will close in 20 seconds