China’s Meituan Agrees to $15 Billion Dianping Merger

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  • Tie-up creates one of the largest providers of local services
  • Deal will pile pressure on Baidu as O2O market expands

Two Chinese startups separately backed by Alibaba Group Holding Ltd. and Tencent Holdings Ltd. have agreed to a merger that will create a $15 billion provider of local services including restaurant reviews and movie bookings, people with knowledge of the matter said.

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