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Tencent Aims to Undercut Alibaba With Billion Chat Users

Tencent Holdings Ltd. faces the prospect of losing its position as Asia’s most-valuable Internet company this year after Alibaba Group Holding Ltd. goes public. The Shenzhen-based company isn’t going to concede quietly.

Tencent is taking on Alibaba in almost every business related to the Web, from games to security to search. In the latest escalation of the battle, Tencent is expanding in messaging services and using the technology to drive customers to its e-commerce partners -- in a direct challenge to its rival.