China's Tencent says no spin-off plan for WeChat messaging app

Reuters News
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Posted: Mar 17, 2016 6:22 AM

HONG KONG (Reuters) - China's Tencent Holdings Ltd <0700.HK> has no plans to spin-off its popular mobile messaging app WeChat, Chief Executive Pony Ma told reporters in Hong Kong on Thursday.

WeChat had 697 million monthly active users at the end of December, Tencent said earlier in its fourth-quarter earnings results.

China's biggest social network and online entertainment firm said revenue rose 45 percent in the fourth quarter, its quickest rate in three years, driven by gaming and online advertising.

(Reporting by Yimou Lee and Twinnie Siu in HONG KONG; Writing by Paul Carsten in BEIJING; Editing by Christopher Cushing)