Tencent seeks loan
HONG KONG: China’s Tencent Holdings Ltd is seeking a loan of up to $2 billion, part of a flurry of fund-raising by the country’s internet giants, two people involved in the financing told Thomson Reuters LPC, a loan-focused news service. The plan adds to a $2.45 billion loan that Tencent, best known for its WeChat mobile app, closed in December, said the sources, declining to be identified as they were not authorised to speak about the matter. Tencent has been spending heavily of late, investing in a sprawling array of businesses. These include gaming, intellectual property rights for entertainment, cloud computing and online financing, as well as investments in start-ups engaged in cash-fuelled wars for market share.