China's Meituan and Dianping said to agree to US$15b merger
Hong Kong
TWO Chinese startups separately backed by Alibaba Group Holding Ltd and Tencent Holdings Ltd have agreed to a merger that will create a US$15 billion provider of local services like restaurant reviews and movie bookings, people with knowledge of the matter said.
The merger of Meituan.com, a group-buying site part-owned by Alibaba, with Tencent-backed consumer-reviews service Dianping.com may be announced as soon as Thursday, the people said, asking not to be identified becaus…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
P&G raises annual core profit forecast on resilient demand, price hikes
Cordlife calls for trading halt after shares sink to all-time low, pending announcement
Marina Bay Sands Q1 profit surges 51.5% to US$597 million on tourism boom
Swiss watch exports plunge as China and Hong Kong demand dries up
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO