Investors will scrutinize any comments from Tencent Holdings Ltd. about its buyback plans during Wednesday’s quarterly results announcement as its competitors catch up with its spending levels.
Tencent has forked out almost $8 billion this year to repurchase its Hong Kong-listed shares, more than any other company on the exchange, according to data compiled by Bloomberg. The firm is widely expected to keep spending as its total outlay this year is only about 60% of the $12.8 billion it projected for the whole of 2024.
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