DUBAI / GULF TIME In a landmark move that reflects both strategic foresight and confidence …
Read More »Tencent doubling down on retail shouldn’t be a surprise
Tencent Holdings Ltd. is doubling down on retail. Investors shouldn’t act so surprised. Days after confirming plans to pay around 4.2 billion yuan ($635 million) for a 5 percent stake in Yonghui Superstores Co., the Chinese social-media king announced it would outlay a similar amount for a similar stake in Vipshop Holdings Ltd. Yonghui operates a chain of supermarkets, Vipshop …
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