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Tencent-led group to invest 10b yuan in menswear firm Heilan Home

The proposed deal extends a recent push by Tencent into bricks-and-mortar retail to further compete with Alibaba.

Hong Kong

TENCENT Holdings Ltd is leading a deal to invest 10 billion yuan (S$2.09 billion) in Chinese menswear group Heilan Home Co Ltd, upping a retail rivalry with fellow Internet giant Alibaba Group Holding Ltd, sources with knowledge of the matter said.

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