Groupon is currently in talks with major Chinese Internet company Tencent to co-brand a deals website there. Normally Groupon would buy a competitor or a clone and re-brand them, but in this case it sounds like Chicago-based group coupon service is seeking something more.
Interestingly enough, there are a ton of Groupon clones in China including Groupon.cn, which is not affiliated with Groupon.com at all.
Groupon and Tencent share a common investor too: the Mail.ru Group, formerly known as Digital Sky Technologies (DST). Mail.ru owns 5% of Groupon and Tencent is an invest in Mail.ru.