Tencent bolsters defenses for core businesses as ByteDance muscles into its turf

Tencent Holdings Ltd may be the world’s largest gaming company and a Chinese internet powerhouse worth more than $900 billion, but it’s also spooked. Rapidly growing ByteDance, the owner of TikTok and the similar Chinese short video platform Douyin, has made sizeable inroads into business areas Tencent holds dear – including ads, gaming, livestreaming, social […]

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