Baidu, Tencent Retreat From $3 Billion Tie-Up With Chinese Mogul

  • The JV with Wang Jianlin was to have revolutionized shopping
  • Ffan.com was positioned to become a world-class platform

Baidu Inc. and Tencent Holdings Ltd. have pulled out of a $3 billion venture with one of China’s richest men, barely two years after it was launched with the ambition of revolutionizing mall shopping.

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