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China’s Tencent may take 16 percent stake in media


Chinas largest Internet company Tencent Holdings Ltd may soon announce a deal to take about a 16 percent stake in online retailer and merge their online shopping platforms, local media reported on Saturday., Chinas second-largest e-commerce company, has a nearly 13 percent market share. Any deal between two of Chinas largest online companies would help narrow the huge gap between e-retailers and Alibaba Group Holding Ltd, which dominates Chinas booming online commerce market. Under the deal, both companies will combine their e-commerce business, with Tencent transferring its less popular e-commerce sites, including, to, Chinas major business paper Caixin reported, citing unidentified company sources.

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