By  on August 27, 2014

BEIJING (Reuters) — China's privately-held Dalian Wanda Group is set to launch a 5 billion yuan ($813 million) e-commerce joint venture with domestic internet giants Tencent Holdings Ltd. and Baidu Inc., according to two sources familiar with the investment.

The e-commerce venture, which will be 70 percent owned by Wanda and 15 percent held by Tencent and Baidu respectively, is set to be announced later this week, the people said.

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