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Benzinga
Benzinga
Business
The Bamboo Works

ZhongAn Moves Further Out of Parental Shadow as Tencent Cuts Stake

Tencent Alibaba Ant Ping An Ant Group BABA Insurance Nasdaq NYSE

Key takeaways:

•      Tencent reduced its stake in ZhongAn to about 8% from 10%, less than six months after Alibaba-affiliated Ant Group also cut its stake in the online insurer

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