RIGHT BG
E-House (China) Holdings announced over the weekend that leading Chinese Internet company Tencent Holdings will spend $180 million for a 15 percent stake in Leju Holdings, a wholly owned subsidiary of E-house, the company said over the weekend.
The transaction will be completed by the end of the month, the New York Stock Exchange-listed company said, explaining that Tencent is aiming to capitalize on Leju's success in real estate e-commerce.
E-House proposed in early March to launch the IPO of its real estate e-commerce platform unit in the US.
On March 10, Leju has signed a cooperative agreement with Tencent to develop its mobile property e-commerce business.
Alibaba dominates Internet finance, Tencent strong contender
2014-03-22Tencent linked to JV with New Oriental
2014-03-19Alibaba expands its footprint into media
2014-03-13Copyright ©1999-2018
Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
