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March 10, 2014 06:32 am GMT
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/a54zj4DQS4Y/
Tencent Takes 15% Stake In JD To Strengthen Position Against Alibaba
Tencent, one of China's largest Internet services companies and the maker of WeChat, and JD.com, an online direct sales company, have formed a strategic partnership. The deal can potentially boost Tencent's competitive position against rival Alibaba Group, which dominates China's fast-growing e-commerce market. As part of the agreement, Tencent has agreed to take a 15% stake in JD, worth about… Read MoreOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/a54zj4DQS4Y/
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