Alibaba will sell a stake in China Internet Plus, formed by the merger of Dianping and Meituan late last year, said to be sized at about 7%.
E-commerce firm Alibaba has agreed to sell its stake in China-based local listings and group buying platform China Internet Plus for roughly $900m, the Wall Street Journal reported today.
China Internet Plus is the company formed by the $15bn merger between group buying company Meituan and local listings and reviews site Dianping in October 2015.
The company raised $3.3bn from undisclosed investors earlier this month, though reports as far back as November indicated that Alibaba, an investor in Meituan…
