China International Capital Corporation (CICC), China’s HK-listed tier 1 investment bank, announced on Wednesday that it will introduce Tencent as a strategic shareholder (4.95%); CICC says the company will be able to provide more customized wealth management products and services through its cooperation with Tencent in terms of targeted marketing and big data analysis; the two parties will establish a “strategic cooperation committee” that composed of executives from both companies to facilitate the cooperation; the deal is pending regulatory approval. Source (Chinese)
