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 and follows Suning’s acquisition of Redbaby, an online shopping mall for baby products, in September.
“The cooperation with PPTV is good practice in Suning’s internet exploration, which will help us occupy more...