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Benzinga
Benzinga
World
Navdeep Yadav

Why China's JD Is Giving Rival Tech Giant Tencent An Additional $220M Stake

Chinese e-commerce giant JD.Com Inc (NASDAQ:JD) on Wednesday said that it renewed its strategic cooperation agreement with the tech and gaming giant Tencent Holdings (OTC:TCEHY) for a period of three years.

What Happened: The company, in a press statement, said it would issue shares worth $220 million to Tencent over a three-year period to access certain services on the latter's social media platform WeChat.

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