Beijing time on the afternoon of February 1, according to Reuters quoted people familiar with the news that Tencent will lead the Hailan home total 10 billion yuan (about 1.59 billion US dollars) in a deal with the retail area to fight Alibaba .
Informed sources said Jingdong and the only product will also vote with. Investors plan to acquire a stake of less than 10% of Hailan House with RMB5 billion and an additional RMB5 billion will be used to set up an industrial investment fund aimed at trading suitable for Hailan's home business.
As of Monday, the market value of Heilan House was about 8.13 billion U.S. dollars, and the shares were subsequently suspended.
Tencent, Jingdong, the only product will reject this comment. Hailan House has not yet responded.
The earliest transaction is expected to be announced on Friday. This move will help Tencent further advance the real retail area, and Alibaba launched in-depth confrontation.
Before Hailan House Alibaba has been a long-term partner Lynx Mall.
However, Tencent said last month that the company will invest 4.2 billion yuan in Yonghui Supermarket. The company also plans to acquire Carrefour China business.
A series of recent moves reflect the wide-ranging, long-term rivalry between Tencent and Alibaba, all of whom have made competitive investments in the areas of shared cycling, takeaway and gaming.
Tencent is one of the top ten shareholders of Jingdong. Jingdong has been leading Alibaba in areas such as electronics and home appliances, but is lagging behind in apparel business.
Tencent and Jingdong jointly launched a $ 863 million investment in Vipshop in the hope of tapping the young Chinese women shopping groups and obtaining consumer and transaction data in order to compete with Alibaba's Alipay.
The founder of Heilan Zhou Jianping is one of the richest people in the Chinese apparel industry. The company was founded in 1997 and now has more than 5,000 stores, mainly in China. The company achieved operating income of 12.5 billion yuan in the first three quarters of last year.