Tencent buys 11% of mapping firm NavInfo for $187m, weeks after Alibaba’s AutoNavi deal


Tencent is upping its battle with Alibaba, its closest rival in China’s Internet space, after securing a deal to buy an 11.3 percent stake in Chinese mapping service NavInfo for $187 million (1.17 billion yuan). NavInfo provides digital maps, a location-based vehicle network, dynamic traffic information and other services. It claims to be the fourth largest company of its kind worldwide. The deal — announced in a filing that was spotted by Bloomberg — is seemingly a response to Alibaba’s $1.5 billion deal to buy Autonavi, a larger rival to NavInfo, which was formally announced in April. It’s nearly one...

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