Chinese on-demand booking platform Meituan Dianping on Wednesday said it has agreed to buy all of bike-sharing startup Mobike in a deal that will combine two ventures backed by technology conglomerate Tencent Holdings.
Business deals
Chinese unicorn Meituan to buy Mobike
Union of Tencent-backed ventures is part of a turf war with Alibaba
Chinese bike-sharing company Mobike has been expanding into overseas markets. (Photo by Kosaku Mimura)
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