Tencent’s JD.com Stake To Propel Rivalry With AlibabaMani
China's Tencent Holdings Ltd (HKG:0700) unveiled plans Monday to buy a 15% stake in JD.com for $215 million to take on rival e-commerce giant Alibaba.com Limited (HKG:1688). As part of the deal, Tencent plans to take another 5% after JD.com’s planned IPO.
Tencent’s acquisition ahead of JD.com’s IPO
As reported . . .
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