January 26, 2018 / 4:29 AM / a year ago

JD.com plans to make U.S. foray this year - Bloomberg

Jan 25 (Reuters) - China’s JD.com Inc is preparing to enter the United States by the end of this year, Bloomberg News reported on Thursday, in a move that will challenge its Chinese rival Alibaba Group Holding Ltd and U.S.-based Amazon Inc.

JD.com is seeking funds for its international expansion and is in final talks to sell 15 percent of its logistics arm to shareholder Tencent Holdings Ltd and other investors in an early fundraising round, Bloomberg reported. (bloom.bg/2DBxEZw)

Tencent will get about a third of the shares on offer and the deal will be completed by the middle of next month, JD.com founder Richard Liu told Bloomberg in an interview.

JD.com and Tencent were not immediately available for comment. (Reporting by Shubham Kalia in Bengaluru; Editing by Amrutha Gayathri)

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