Sinopec (SNP.NYSE, 600028.HKG, 0386.SHA) parent China Petroleum & Chemical Corp. and internet giant Tencent (0700.HKG) are in talks over potential collaboration, South China Morning Post reported. Fu Chengyu, the chairman of China Petrochemical, has met internet giant Tencent president Martin Lau Chi-ping, China Petrochemical said in a statement. Sinopec is in the process of selecting potential strategic and financial investors to buy up to 30% of its fuel distribution unit. An analyst said the potential co-operation might be in payment – the topping up of fuel and convenience stores payment cards and virtual payment cards, or online advertising.
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