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

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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