The Chinese Internet giant's investment in online retailer JD.com could help it challenge Alibaba's e-commerce dominance.
March 11, 2014 at 06:49 AM
1 minute read
The original version of this story was published on Global Lawyer News
Davis Polk & Wardwell and Skadden, Arps, Slate, Meagher & Flom have the lead roles in Chinese internet giant Tencent Holdings Ltd.’s $214.7 million investment in online retailer JD.com Inc.
Tencent will take a 15 percent stake in JD.com, which operates Jingdong Mall, China’s second-largest online shopping site after Alibaba Group Holding’s Taobao.com. A strategic cooperation agreement between Tencent and JD.com will grant the latter ownership of Tencent’s e-commerce units.
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