Tencent gets ready to conquer Europe

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The Chinese internet giant Tencent is aiming its arrows at Europe. The company wants to invest more than 10 billion dollars a year on the continent. That said Li Shiwei, who heads Tencent Cloud Europe, in an interview with the German Handelsblatt.

Tencent, which is large in the field of social media and gaming, among other things, has invested billions in Europe in recent years, mainly in cloud applications. Among other things, the investments are needed in the competition with sector counterpart Alibaba.

The investment promise is also accompanied by employment. In the next three years, the company wants to create 2,000 to 3,000 jobs. Germany in particular is labeled by Tencent as a promising cloud market. Prosus, a technology investor listed in Amsterdam, has a major interest in Tencent.


By: Oliver I. Kjeldsen

Oliver I. Kjeldsen has a corporate finance and extensive expertise in company audit. He grants us amazing insights on taxation, international affairs and friendly advice on nearly any topic of interest. His email is oliver.kjeldsen@economicinform.com

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