Alibaba to sell Meituan-Dianping stake at $900mn
Alibaba has announced to sell its stake in on-demand service provider Meituan-Dianping for around $900 million, as reported by The Wall Street Journal. Alibaba decided to sell its stake after the merger of Meituan and Dianping, that brought in its rival Tencent Holdings as a shareholder. Notably, the merged entity had raised $3.3 billion in the largest funding round ever. 