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The Chinese government is set to take shares in Tencent

The "golden shares" are normally a one percent stake and include the ability to vote on business decisions

The Chinese government is poised to take shares in conglomerate Tencent.

As reported by the Financial Times, the "golden shares" are business operations that allow regulators to be involved in tech firms.

They are usually one percent of a company and come with the ability to vote on crucial business decisions.

Sources familiar with the matter said that the stake would be in one of Tencent's main China divisions.

The Financial Times described the golden shares as a larger effort to oversee tech giants within the country.

Currently, it's unclear how this will affect Tencent's gaming business.

The news comes three weeks after the business firm purchased a 20% stake in Korean game developer Shift Up.

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Jeffrey Rousseau avatar

Jeffrey Rousseau

Staff Writer

Jeffrey Rousseau joined GamesIndustry.biz in March 2021. Based in Florida, his work focused on the intersectionality of games and media. He enjoys reading, podcasts, staying informed, and learning how people are tackling issues.