Tencent, the Chinese technology conglomerate, has divested its 14% stake in Tide, a UK-based business banking platform, selling it to an undisclosed buyer. This decision is part of Tencent's broader strategy to scale back its overseas investments, which have been declining since 2018.
Tide, which holds a significant market share among small and medium-sized businesses (SMBs) in the UK and has expanded internationally, allowed early investors to exit through a recent secondary share sale, marking a notable shift in its ownership structure.
