| Tencent said late on Tuesday it had entered into a deal to reduce its stake in the Singapore-based gaming and e-commerce group to 18.7% from 21.3%. The company plans to retain the substantial majority of its stake in Sea for the long term. The sale comes after Tencent said last month it would divest $16.4 billion of its stake in JD.com. Sea's shares fell 11.4% on Tuesday in New York to $197.8 following the divestment news. Tencent will be subject to a lockup period that restricts further sale of Sea shares by Tencent during the next six months. |