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Chinese instant messaging/gaming giant Tencent (TCEHY.PK) says it plans to invest $1B in its...

Chinese instant messaging/gaming giant Tencent (TCEHY.PK) says it plans to invest $1B in its e-commerce subsidiary, with the goal of creating a "new-generation" consumer e-commerce platform. Tencent's investment could produce fresh competition for Alibaba (ALBCF.PK), which will remain 20%-owned by Yahoo (YHOO) following its pending share buyback, and Jingdong Mall, which has been mulling a U.S. IPO.
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