China’s internet giants Alibaba Group Holding Ltd., and Tencent Holdings Ltd. are in talks to acquire a minority stake in British advertising and public relations firm WPP, according to British media insiders. China Media Capital (CMC) Inc. will join the duo to pick up a 20% stake in WPP China, valuing the business between US$2 billion to US$2.5 billion, according to the report. Tencent said it doesn’t comment on market rumor. Alibaba declined to comment. WPP, CMC did not immediately …

Tencent, Alibaba May Buy Minority Stakes In WPP’s Chinese Operation To Boost Advertising Business appeared first on China Money Network.