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China tech

Tencent's most aggressive share buyback sends mixed message

Skeptics say move shows company has no better way to generate returns

The buyback indicates to some that China's tech giant does not have a better way to generate funds in the near term.   © Reuters

HONG KONG -- Tencent Holdings is repurchasing shares more aggressively than ever to offset a selldown by its biggest shareholder that comes amid a slowdown in growth at China's most valuable company.

As of Wednesday, Tencent has bought 11.4 billion Hong Kong dollars ($1.45 billion) worth of its own shares since the beginning of the year, compared to HK$2.6 billion last year.

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