Tencent Buys Over 11 Million Shares in Meituan, Raising Nearly $400 Million and Acquiring a 17.2% Stake in the Firm

Meituan, a leading Chinese e-commerce platform that covers diverse life services (Source: Acquired)

On the evening of July 13, Chinese delivery and e-commerce giant Meituan announced that all preconditions for the items contained in Tencent’s subscription agreement had been reached.

After completing the agreement with Tencent, Meituan has allotted and iss…