Amsterdam tech investor Prosus sells stake in Chinese firm Trip.com for $743 million

Technology investment company Prosus has sold all its stake in Trip.com for 743 million dollars. This makes the company listed on the Amsterdam Stock Exchange as the latest international investor to exit a Chinese tech company.

Prosus sold the shares at the stock exchange in a block trade worth 743 million dollars, financial press agency Bloomberg reported based on information obtained from sources.

A spokesperson for Prosus confirmed the sale to the press agency and said it reflects the company's "active approach to portfolio management." Trip.com did not respond to a request for comment.

The move comes about a month after the American retail group Walmart ended its eight-year partnership with the Chinese e-commerce company JD.com and sold its entire stake for 3.6 billion dollars.

China has struggled with its economy lately. The ongoing real estate crisis, falling house prices, and lower wages are putting a damper on Chinese consumer spending.

Prosus is still a significant shareholder in the Chinese gaming company Tencent, although its stake is not as large as it was in the past. The company now owns around a quarter of the company's shares.