Dalian Wanda Group's Wanda Plaza building is pictured in Beijing, China, May 17, 2016. REUTERS/Kim Kyung-Hoon/File Photo
LOS ANGELES: Chinese Internet giants Tencent and Baidu have pulled out of a US$3bil (RM12.10bil) e-commerce joint venture with Wanda, China's massive property to entertainment group.
The three companies announced in 2014 that they were joining forces to launch Ffan.com, a shopping platform intended to transform shopping in malls and to rival Alibaba's multiple online marketplaces.
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