Chinese Internet giant Tencent Holdings Limited is to invest US$1 billion in the merged Meituan-Dianping entity, which is the largest on-demand local services provider in China, at a valuation of around US$20 billion, according to media reports. In October, Shanghai-based Yelp-like review website Dianping.com and Beijing-based group discount platform Meituan.com agreed to merge. The result […]

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