Tencent stake deal
By Cathy Ding |
January 8, 2014, Wednesday
|
Print Edition
Print Edition
Tencent is said to have bought an undisclosed stake in e-commerce site JD.com, a Chinese technology blog said yesterday, in a bid to catch up with Alibaba.
Both Tencent and JD.com declined to comment yesterday. Industry watchers said Tencent might need to collaborate with JD.com to catch up with Alibaba, which remains the dominant e-commerce firm in China with over 60 percent of the market.
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