20 January 2019

Tencent eyes 20% stake in restaurant review website, paper says

Internet giant Tencent Holdings Ltd. (00700.HK) is close to a US$400 million strategic stake purchase in restaurant review website, National Business Daily reported Monday. The deal, which values Dianping at US$2 billion, gives Tencent a 20 percent stake in the company, the report said, citing Bloomberg Businessweek. Tencent declined to comment on the report but said in media invitations that it is planning to make an announcement in Shanghai on Wednesday. The deal suggests the companies plan to develop an O2O (online-to-offline) business, the report said.

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