Chinese regulators are now weighing whether WeChat Pay should be included in that holding company and operate separately from the main social media arm, Bloomberg said https:\/\/bloom.bg\/3Ifp5QN, citing people familiar with the matter.
The news comes after the Wall Street Journal reported on Monday that Tencent was facing a potential fine of at least hundreds of millions of yuan for violating some central bank regulations on its WeChat Pay mobile network<\/a>.
Tencent did not immediately respond to Reuters' request for comment.
Reuters had reported earlier this week citing sources that Alibaba Group Holding Ltd<\/a> and Tencent were preparing to cut tens of thousands of jobs combined this year in one of their biggest layoff rounds as the internet firms<\/a> try to cope with China's sweeping regulatory crackdown.
China recently launched a three-year campaign led by its central bank and Ministry of Public Security, to fight money laundering<\/a>.
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