je.st
news
Wanda, Baidu, Tencent set up e-commerce JV
2014-08-29 10:12:00| Telecompaper Headlines
(Telecompaper) Chinese entertainment conglomerate Wanda Group, Chinese internet company Baidu and Chinese internet and mobile services provider Tencent have established an O2O e-commerce joint venture dubbed. The JV will invest initial capital of RMB 5 billion (approximately USD 814 million), with Wanda Group holding 70 percent equity, while Baidu and Tencent each own a 15 percent stake, respectively. Wanda E-commerce also reports it has registered a new name for the joint venture, which will be announced on the day of its official launch.
Tags: set
ecommerce
baidu
wanda
Category:Telecommunications