Scalper1 News
Chinese classified advertising site 58.com (WUBA) jumped 8% to a new high in early trading Friday after the company announced that it had agreed to buy a 43.2% stake in rival Ganji.com. Separately, 58.com said it had received an additional $400 million investment from China Internet giant Tencent Holdings (TCEHY). Tencent had acquired a 19.9% stake in 58.com in June 2014, for $736 million, as it boosted its competition with China e-commerce leader Scalper1 News
Scalper1 News