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Tim Hortons Secures Tencent Funding for China Expansion

Tim Hortons Secures Tencent Funding for China Expansion

Looking to expand in China to confront Starbucks' (NASDAQ: SBUX) growth directly, Restaurant Brands International's (NYSE: QSR) coffeehouse Tim Hortons said it has secured financing for the strategy from Chinese conglomerate Tencent (OTC: TCEHY). Expanding another coffee chain in a country known for its love of tea may seem counterintuitive, but Starbucks has proved particularly adept at the exercise.