TCTZF Tencent Holdings Limited (PK)

Groupon Inc. (GRPN) will combine an online commerce venture in China in which it holds a minority stake with a company backed by Tencent Holdings Ltd. (0700.HK), Bloomberg News reported Tuesday on its website.

Groupon's venture, Gaopeng, is to be combined with Tencent's FTuan, a move intended to strengthen Groupon's investment in China, Groupon said in a statement. Terms of the deal were not disclosed.

Groupon started Geopeng 16 months ago along with Tencent and Alibaba Group Holding Ltd. Chairman Jack Ma's Yunfeng Capital.

Full story at: www.bloomberg.com/news/2012-06-26/groupon-china-venture-to-merge-with-tencent-backed-ftuan.html

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