Tencent Takes 15% Stake In JD To Strengthen Position Against Alibaba

Tencent, one of China's largest Internet services companies and the maker of WeChat, and JD.com, an online direct sales company, have formed a strategic partnership. As part of the deal, which can potentially boost Tencent's competitive position against rival Alibaba Group, which dominates China's fast-growing e-commerce market. As part of the deal, Tencent has agreed to take a 15% stake in JD,… Read More