China takes steps to tighten grip on tech by acquiring 'golden shares' in Tencent and Alibaba

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China takes steps to tighten grip on tech by acquiring 'golden shares' in Tencent and Alibaba China is seeking an increased role in the country’s tech sector by acquiring special management shares, colloquially known as ‘golden shares’, in two of the country’s biggest tech companies, reports The Financial Times. These stakes, which usually involve a one percent share in the company, allow the country’s communist party to have a hand in the businesses, with China’s media…

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