HONG KONG: Two Chinese startups separately backed by Alibaba Group Holding Ltd and Tencent Holdings Ltd have agreed to a merger that will create a US$15bil provider of local services like restaurant reviews and movie bookings, people with knowledge of the matter said.
The combination of Meituan.com, part-owned by Alibaba, with Tencent-backed Dianping.com may be announced as soon today, the people said, asking not to be identified because the information was private.
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