(Reuters) - Tencent Holdings Ltd, China's biggest listed tech firm, will buy a 20 percent stake in online classifieds company 58.com Inc for $736 million as the company looks to boost its presence in the e-commerce business. Tencent, known for its mobile messaging app WeChat, has already spent more than $1.2 billion in areas such as e-commerce, real estate and digital mapping since the beginning of 2014. Its many investments include a March tie-up with JD.com Inc. The deal will help 58.com Inc, dubbed the Craigslist of China, to draw more traffic by clubbing its services with Tencent's online sites such as QQ, Weixin, QQ.com, and QQ browser, the companies said on Friday.
via Tech News Headlines - Yahoo News http://ift.tt/1pWRK0W
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