Business

Tencent executive held by China over links to corruption case: WSJ

FILE PHOTO: A logo of Tencent is seen at its booth at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 4, 2020. REUTERS/Tingshu Wang

(Reuters) – An executive at Tencent Holdings Ltd has been held by Chinese authorities as part of a probe into a high-profile corruption case involving one of China’s former top law-enforcement officials, the Wall Street Journal reported, citing people familiar with the matter.

Shares in the gaming company and internet powerhouse fell 1.4% in early trade in Hong Kong on Thursday, while the broader market slipped 0.3%.

Tencent did not immediately respond to a request for comment.

Zhang Feng has been under investigation by China’s anti-graft inspector since early last year for alleged unauthorized sharing of personal data collected by Tencent’s social-media app WeChat, the Journal said. (on.wsj.com/2NdMuv9)

Zhang was suspected of turning over WeChat data to former Vice Public Security Minister Sun Lijun, who is being investigating by Beijing for undisclosed violations of Communist Party rules, the report added.

Source: Read Full Article