China’s 58.com buys stake in VC-backed rival Ganji
US-listed Chinese classifieds site 58.com has agreed to buy a 43.2% stake in its domestic rival Ganji.com in a deal worth around $1.61 billion. It is part of a broader consolidation in China’s internet industry.
Shareholders in Falcon View Technology, Ganji's parent company, will receive $412.2 million in cash and 34 million newly issued shares in 58.com, valued at $1.19 billion based on the most recent closing...
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