China's leading Internet company Tencent, and e-commerce firm JD.com may soon announce a deal in which Tencent holds a stake of about 16 percent in JD.com, according to Saturday media reports.
Â
The two sides have basically reached the shareholding deal and may announce it on Monday, Zhengzhou Evening News reported, citing a source close to Tencent.
Â
As well as its 16-percent stake, Tencent will transfer its e-commerce assets, including yixun.com, to JD.com to collaborate in their competition against Chinese e-commerce giant Alibaba, the newspaper said.
Â
The deal was also confirmed by Caixin.com, a Chinese financial and business news provider.
Â
Its report on Saturday said the 16-percent shareholding is still subject to changes before final announcements, citing several sources with knowledge of the deal.
Â
One was quoted by Caixin.com as saying, "Sixteen percent is the minimum amount according to present negotiations. The possibility of a shareholding of more than 20 percent cannot be ruled out."