Meituan Dianping to acquire bike-sharing giant Mobike for $2.7b

Meituan Dianping to acquire bike-sharing giant Mobike for $2.7b

Photo: Reuters

Meituan Dianping, China’s largest provider of on-demand online services, is buying bike-sharing firm Mobike for $2.7 billion, in a deal that will intensify the rivalry of their common backer Tencent Holdings with Alibaba Group.

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