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Alibaba looks to sell stake in Meituan/Dianping entity

2015-11-23 09:40:00| Telecompaper Headlines

(Telecompaper) Alibaba wants to sell its 7 percent stake in the company created by last month's merger of Meituan.com and Dianping, which provide online movie ticketing, restaurant booking and other on-demand services, the Wall Street Journal reported, citing people familiar with the situation. The sources added that the company wants to focus on building up a competing platform of its own. The Alibaba deal could be worth about USD 1 billion, based on the valuations being discussed in Meituan-Dianping's current fundraising round, the people said.

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