Tencent Holdings (00700.HK) will purchase 15 percent stake in Chinese e-commerce site JD.com for US$214.66 million, according to a regulatory filing Monday. Under the deal, Tencent also agreed to buy a further 5 percent stake in JD.com after the latter completes an initial public offering. As part of the cooperation agreement, JD.com will acquire Tencent’s business-to-customer (B2C) platform QQ Wanggou and the Pai Pai customer-to-customer (C2C) marketplace businesses, as well as a minority stake in Yixun. Tencent will help boost JD’s exposure to consumers through QQ and WeChat platforms, among others, and the two sides will strengthen cooperation in online payments, according to the filing.
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