Tencent Holdings Ltd, China's largest Internet company, announced on Monday that it is going to take a 15 percent stake in the country's leading online retailer JD.com, forming a strategic partnership to offer e-commerce services to Internet and mobile Internet users.
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And Tencent, which has been trying to strengthen its e-commerce business, is expected to boost its online shopping business through JD.com, the second-largest e-commerce player in China.
The partnership between Tencent and JD.com is seen as a major threat to Alibaba Group Holding Ltd, China's dominant player in e-commerce.
Under the deal, Shenzhen-based Tencent and the Beijing-based JD.com are expected to combine their online shopping platforms.
JD.com, the second-largest e-commerce company, by market share, will acquire the less popular online shopping platforms - wanggou.com, paipai.com and yixun.com - from Tencent.
In addition, Tencent will take an extra 5 percent stake in JD.com, when the company launches its initial public offering in the US. JD.com filed for a US listing at the end of January.
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