Property News · May 31, 2018

Wanda and Tencent team up on ‘smart retail’ venture


Tencent Holdings, China’s social media and games giant, has launched an internet technology joint venture with Wanda Commercial Management Group, the country’s largest owner and operator of shopping centres, upping its ante in becoming a “smart” retailer, very much in line with Alibaba Group Holding’s push to integrate its online and bricks-and-mortar resources.
Tencent said on Wednesday it has taken a 42.5 per cent stake in the new yet-unnamed venture, without…

Source : South China Morning Post
Read more…Wanda and Tencent team up on ‘smart retail’ venture

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