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Tencent to Buy Part of Supermart Chain in Rare Retail Foray

Vinicy Chan, Eduard Gismatullin
Tencent to Buy Part of Supermart Chain in Rare Retail Foray

Tencent Holdings Ltd. will acquire a stake in Chinese supermarket chain Yonghui Superstores Co. for about 4.22 billion yuan ($638 million), a rare incursion into a physical retail arena coveted by rival ...