The corporate has agreed to acquire Mobike, backed by Tencent, for $2.7bn.
Local services platform Meituan-Dianping has agreed to purchase China-based bike rental service Mobike for $2.7bn, according to TechCrunch.
The transaction was initially reported by Caixin. Several Chinese media reports had suggested Meituan-Dianping was going to pay $3.7bn, but Caixin cited an unnamed source as saying that the figure is incorrect.
The transaction was reportedly being brokered by Pony Ma, chief executive of Tencent, which also owns a stake in Meituan-Dianping.
Founded in 2015, Mobike operates an app-based, dockless bike sharing…
