Tencent Restructures into Six Businesses Groups

BiaNews, 5/18/12

Chinese internet company Tencent (0700.HK) announced today that it will restructure.

Tencent will upgrade its former business units (BUs) to business groups (BGs), and will redelineate its current businesses as the Corporate Development Group (CDG), the Interactive Entertainment Group (IEG), the Mobile Internet Group (MIG), the Online Media Group (OMG), and the Social Networking Group (SNG), as well as integrating its existing R&D and operations platforms to establish the new Technology Engineering Group (TEG). Tencent will also establish a new subsidiary, Tencent E-Commerce Holdings Co. (unofficial translation) (ECC), to oversee operations for its e-commerce businesses.

Editor's Note: For more information on this topic, please see "Rumor: Tencent to Restructure," MD 5/16/12 issue.

Keywords: corporate restructuring wireless online gaming e-commerce Internet online media Tencent 0700.HK mobile Internet SNS

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