New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 9, 2014
21:34 EDTTCEHYTencent, JD.com form strategic partnership
JD.com and Tencent Holdings have formed a strategic partnership aimed at providing "superior" eCommerce services to mobile and Internet users in China.The strategic partnership enables JD to tap Tencent's significant mobile and Internet user base, and Tencent to leverage JD's best-in-class eCommerce services to offer superior user experiences. JD will become Tencent's preferred partner for all physical goods eCommerce businesses. Mr. Martin Lau, President of Tencent, will join JD's Board of Directors...As part of the transaction, JD will acquire 100% interests in Tencent's QQ Wanggou B2C and PaiPai C2C marketplace businesses, logistics personnel and assets, a minority stake in Yixun, and will enter into a strategic cooperation agreement with Tencent. In addition, JD has the right to acquire the remaining stake of Yixun in future. As part of the strategic cooperation, Tencent will support JD's growth in the physical goods eCommerce business by offering level 1 access points in Weixin and Mobile QQ, and support from other key platforms to JD. Both parties will also cooperate on online payment services to improve users' online shopping experience. In connection with the transaction, JD will issue new shares to Tencent. Initially, Tencent will hold approximately 15% in JD upon closing of the transaction. Furthermore, Tencent will subscribe at IPO price for an additional 5% of JD on a post-IPO basis. The IPO subscription is expected to close concurrently with JD's IPO.
News For TCEHY From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
There are no results for TCEHY

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use