HONG KONG: Tencent Holdings Ltd is leading a deal to invest 10 billion yuan (US$1.59bil) in Chinese menswear group Heilan Home Co Ltd, upping a retail rivalry with fellow internet giant Alibaba Group Holding Ltd, sources with knowledge of the matter said.
China’s second-largest e-commerce company JD.com Inc and online clothing platform Vipshop Holdings Ltd will also be among the group that plans to acquire less than 10% of the company for five billion yuan, one source said.
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