March 20, 2019 / 4:56 AM / a month ago

Tencent weighs bid for part of Temasek's stake in A.S. Watson - Bloomberg

March 20 (Reuters) - Chinese technology company Tencent Holdings Ltd is considering a bid for part of Singapore state investor Temasek Holdings (Private) Ltd's stake in beauty and health retailer A.S. Watson, Bloomberg reported on Wednesday, citing sources.

Temasek is weighing selling around a 10 percent stake in A.S. Watson for about $3 billion, the report bloom.bg/2JlLmmv said.

The stake has also drawn interest from e-commerce giant Alibaba Group Holding Ltd, according to the report.

Tencent could team up with some investment funds to make an offer for the stake in A.S. Watson, part of conglomerate CK Hutchison Holdings Ltd.

A.S. Watson said it had no comment on the speculation. Tencent and Alibaba did not respond to requests for comment. (Reporting by Kanishka Singh in Bengaluru; Editing by Subhranshu Sahu)

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