Tencent to Restructure Business

Tencent Holdings said Friday it will restructure its business operations into six groups and named a new chief operating officer as the Chinese Internet company moves to improve efficiency and grow beyond its core gaming business.

The move is aimed at helping its smaller operations, such as its mobile, search and e-commerce businesses, gain more independence, analysts said. Over the past year Tencent’s profit growth has slowed as it has sought to spend on a wide array of initiatives to solidify its holdings in areas such as mobile chat and online shopping.

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