Sanpower to buy site

Chinese conglomerate Sanpower Group confirmed its intention of purchasing domestic group-buying site lashou.com to build the world's largest O2O (online to off-line) platform, news portal tech.qq.com reported Monday.

Sanpower spokesperson Zou Yan was quoted by the report as saying that Sanpower would take a controlling stake in the site, refusing to reveal either the value or the timetable of the deal.

Sanpower, which engages in business such as finance, retailing and information services, is expected to combine its off-line entities with the online resources of lashou.com, said the report.