Tencent, Vipshop reveal online retail market ambitions

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China’s e-commerce sector has entered a period of fierce competition as market leaders attempt to expand their presence, observed legal counsel involved in two recent deals.

Tencent Holdings agreed in March to set up a strategic business partnership with JD.com, a leading online retail site in China. Tencent will pay about US$215 million to buy a 15% stake in JD, and will also subscribe for an additional 5% after JD’s planned IPO in the US.

That deal came after Vipshop Holdings, China’s leading online discount retailer for brands, in February paid US$132.5 million to acquire a 75% stake in Lefeng.com, an online retailer of cosmetics and fashion products in China.

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