Suning buys stake in online TV group PPTV

Suning and Lenovo’s private equity unit Hony Capital invest total of $420 million in PPTV, intensifying competition in China’s online retail industry.

Suning buys stake in online TV group PPTV
China’s traditional appliance chains such as Suning are in urgent need of adapting their business models to survive in a multimedia era.

Suning Commerce Group, China’s biggest appliance chain, has acquired a 44% stake in PPLive known as PPTV, a large online video company in the country, becoming its largest shareholder.

The deal, announced on Monday, involves Suning pay $250 million for the stake, while Hony Capital, an investment unit of Lenovo, will hold 1.34%. Combined, the two groups will pay $420 million.

It comes aimed intense online competition among retailers...

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