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March 9, 2014
21:34 EDTTCEHYTencent, form strategic partnership 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
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March 24, 2015
06:45 EDTTCEHYTencent, others to develop product for electric vehicle market, DigiTimes says
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March 19, 2015
07:26 EDTTCEHYTencent best positioned among Chinese Internet stocks, says Pacific Crest
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March 18, 2015
05:22 EDTTCEHYMicrosoft announces strategic partnership with Tencent
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05:21 EDTTCEHYMicrosoft announces Windows 10 to launch this Summer in 190 countries
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