Sources: Alibaba and Tencent are in early-stage discussions about buying roughly 20% of WPP China, valuing the business between $2B and $2.5B (Mark Kleinman/Sky News)

Mark Kleinman / Sky News:
Sources: Alibaba and Tencent are in early-stage discussions about buying roughly 20% of WPP China, valuing the business between $2B and $2.5B  —  Alibaba Group and Tencent Holdings, the two biggest names in China's technology industry, are in talks to buy a stake in the $2.5bn (£1.9bn) Chinese operations of WPP Group.

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