Share sale: In this file picture, Tencent is seen showcasing its image recognition technology during an Internet expo in Zhejiang province. The Chinese tech giant’s G7 Connect is considering an IPO in Hong Kong. — China Daily
SHANGHAI: G7 Connect Inc, a fleet management company backed by Tencent Holdings Ltd, has agreed to merge with its smaller competitor E6, which counts a unit of Alibaba Group Holding Ltd as an investor, bringing the two Chinese platform giants together as shareholders in the combined firm.
Both G7 and E6 will retain their own brands and independent operations while they seek synergies in areas where they overlap, according to a statement seen by Bloomberg News.
