58.com takes minority stake in Ganji — and Tencent shores up its investment

17 Apr 2015

China’s classified behemoth 58.com is buying a 43.2 percent stake in rival Ganji.com by issuing 34 million new shares and paying an additional $412 million (U.S.) in cash.

In a news release, 58.com said that as part of the deal, China’s Tencent Holdings Ltd., which owns about 20 percent of 58.com, will make an additional investment of $400 million —  pres

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