Groupon to partner with Tencent

A new report from the Wall Street Journal claims Groupon is in talks with Chinese internet group Tencent in order to form a partnership and expand into the Asian arena.

The story claims that sources have said it is likely the partnership will involve a co-branded joint venture.

The discussions come as Groupon has raised several hundred million dollars, with the view of expanding overseas and hiring new staff.

Groupon has already moved into the Asian arena, with operations in Hong Kong, Singapore, the Philippines and Taiwan.

Tencent is one of the largest internet-based businesses in China.