16 February 2019

Suning invests in video website PPTV, paper says

Suning Commerce Group Co. Ltd. (002024.CN), the country’s largest electronic products retailer, will invest US$420 million in video website, along with private-equity firm Hony Capital Ltd., to further integrate its resources in content and distribution channels as part of its efforts to transform into an internet retailer, China Daily reported Monday, citing vice chairman Sun Weimin. Suning will invest US$250 million, taking up 44 percent of PPTV to become its largest shareholder, Sun was quoted as saying. The deal, its largest single investment to date, will help the retailer build up a cloud business model that integrates all distribution channels, product lines and customer bases, the report said.

– Contact HKEJ [email protected]



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