Tencent to Become CICC’s Strategic Shareholder

China International Capital Corporation (CICC), China’s HK-listed tier 1 investment bank, announced on Wednesday that it will introduce Tencent as a strategic shareholder (4.95%); CICC says the company will be able to provide more customized wealth management products and services through its cooperation with Tencent in terms of targeted marketing and big data analysis; the two parties will establish a “strategic cooperation committee” that composed of executives from both companies to facilitate the cooperation; the deal is pending regulatory approval. Source (Chinese)

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!