China: Tencent-backed Meituan close to raising more than $3b in funding

China: Tencent-backed Meituan close to raising more than $3b in funding

Visitors use their smartphones underneath the logo of Tencent at the Global Mobile Internet Conference in Beijing May 6, 2014. REUTERS/Kim Kyung-Hoon/File Photo

Meituan Dianping, China’s largest group-buying and restaurant reviews service, is said to be close to finalizing a deal to raise at least $3 billion from investors including Capital Group, according to people familiar with the matter.

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