Tencent Holdings' move to divest most of its Meituan stake by distributing the shares as a special dividend could help "lift the market sentiment" toward the Chinese tech giant, Nomura analysts Jialong Shi and Thomas Shen say in a note. Tencent's investment portfolio is worth over US$100 billion in total, and the company may continue to "tap its divestment portfolio to reward its shareholders," the analysts say. "If Tencent does show signs of carrying on this divestment and then distribute the cash to shareholders through buybacks or special dividends, it will be viewed positively by the market."
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