Experimental feature

Listen to this article

00:00
00:00
Experimental feature
or

Chinese investment group Tencent Holdings — which is involved in a range of ventures from social media and e-commerce to mobile games — has revealed its latest holding: a piece of US electric car maker Tesla.

Tencent said in a regulatory filing with the US Securities and Exchange Commission on Tuesday that it had 8,167,544 shares of Elon Musk’s Tesla, translating to a 5 per cent stake in the company. The move makes it Tesla’s fifth-largest shareholder, behind others including Mr Musk himself, according to Bloomberg data.

Tencent, along with Chinese peers Baidu and Alibaba, is a prolific dealmaker, and one of the most highly valued stocks in the emerging market universe.

Tesla shares are up 2.5 per cent in pre-market trading following the news.

Copyright The Financial Times Limited 2017. All rights reserved.
myFT

Follow the topics mentioned in this article

Follow the authors of this article

Comments have not been enabled for this article.