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Tencent, may combine e-commerce business-Bloomberg
February 20, 2014 / 6:30 AM / in 4 years

Tencent, may combine e-commerce business-Bloomberg

HONG KONG, Feb 20 (Reuters) - China’s Tencent Holdings Ltd is in talks to combine its e-commerce business with rival online retailer, Bloomberg reported on Thursday, citing two anonymous sources familiar with the matter.

The companies are considering several options, including Tencent getting a 6 percent stake in in exchange for merging its less-popular online shopping operations with’s more established platform, the report cited one source as saying.

Tencent declined to comment when contacted by Reuters. A spokesperson for told Reuters it was not company policy to comment on market rumors.

The 21st Century Business Herald newspaper had reported on Wednesday that Tencent may buy a stake in, citing an unidentified investment banking source., China’s second-largest e-commerce company, filed on Jan. 30 for a U.S. listing of its shares, following market leader Alibaba Group Holding Ltd in tapping into rising investor enthusiasm surrounding China’s booming online retail market.

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