Groupon to Combine China Venture With Tencent's FTuan -Bloomberg
26 Juin 2012 - 7:06PM
Dow Jones News
Groupon Inc. (GRPN) will combine an online commerce venture in
China in which it holds a minority stake with a company backed by
Tencent Holdings Ltd. (0700.HK), Bloomberg News reported Tuesday on
its website.
Groupon's venture, Gaopeng, is to be combined with Tencent's
FTuan, a move intended to strengthen Groupon's investment in China,
Groupon said in a statement. Terms of the deal were not
disclosed.
Groupon started Geopeng 16 months ago along with Tencent and
Alibaba Group Holding Ltd. Chairman Jack Ma's Yunfeng Capital.
Full story at:
www.bloomberg.com/news/2012-06-26/groupon-china-venture-to-merge-with-tencent-backed-ftuan.html
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