Tencent, JD.Com To Inject $863M In E-Commerce Player Vipshop, Intensifying Battle With Rival Alibaba

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Tencent Holdings Ltd. and JD.com, Inc. said the two plan to invest an aggregate of approximately US$863 million in cash in Vipshop Holdings Ltd. (NYSE:VIPS), a Chinese online discount retailer, as Tencent intensifies its entry into the retail space in direct competition to chief rival Alibaba Group.

China Money Network

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