Chinese Tech Giants Tumble On Report Tencent To Sell $24BN Meituan Stake To Appease Beijing Chinese tech giants backed by Tencent Holdings tumbled after Reuters reported that the social media giant intends to sell all or much of its $24 billion stake in food delivery giant Meituan to appease placate domestic regulators and monetize an eight-year-old investment. The social media giant has engaged financial advisors in recent months on ways to execute the sale of a roughly 17% stake, Reuters reported citing two sources, adding that Tencent is seeking to kick off the sale within this year if market conditions...