JD, Tencent Partner In $215M Deal To Capture China Market

Law360, New York (March 10, 2014, 6:51 PM EDT) -- A pair of Chinese companies — Tencent Holdings Ltd., a mobile-provider and social media holding firm, and JD.com, an online vendor — are forming a partnership in which $215 million will change hands, the companies said Monday. 

JD runs China's second-largest online general goods vendor behind Alibaba Group Holdings Ltd., and JD's combo with Tencent's mobile infrastructure will pose a challenge to Alibaba, their rival. As part of the deal, Tencent will take 15 percent of JD, while JD will acquire Tencent marketplace subsidiaries QQ Wanggou...
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