 This study will compare monotherapy with tenofovir to sequential therapy with pegylated interferon alpha-2b pegIFN-2b followed by tenofovir, and to combination therapy with pegIFN-2b tenofovir, in participants with hepatitis B e antigen HBeAg-positive chronic hepatitis B and elevated alanine aminotransferase ALT. All enrolled participants will be be administered tenofovir alone for 8 weeks and then will be randomly assigned to 1 of the 3 treatment arms. 