JD.com to issue shares worth $220 mln to Tencent for WeChat access

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JD.com sign is seen at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, October 20, 2019. REUTERS/Aly Song

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June 29 (Reuters) - China's JD.Com Inc (9618.HK) said on Wednesday it would issue shares worth $220 million to investor Tencent Holdings Inc (0700.HK) over a three-year period to access certain services on the latter's WeChat platform.

The deal follows Tencent's sale of a $16.4 billion stake in JD.com to Walmart Inc (WMT.N) last year and extends an existing partnership with the WeChat owner. read more

Tencent, which first invested in JD.com in 2014, owns 2.7% of outstanding Class A shares of the company as of March 25, according to a regulatory filing.

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Reporting by Yuvraj Malik and Akash Sriram in Bengaluru; Editing by Anil D'Silva

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