Alibaba is asking banks for up to $4 billion in loans to grow even bigger.
According to a Wall Street Journal report Friday, the Chinese e-commerce giant is in talks with several banks for up to $3 billion, but that could be upped by a billion.
Within the last year, Alibaba has announced investments in other companies worth nearly $10 billion. The companies it has bought stakes in are involved in a range of industries, from food-ordering to online video.
The company last month reported strong third-quarter results that beat Wall Street’s estimates for profits and revenues. Sales were boosted by the Single’s Day shopping event held during the quarter.
Shares were up 2.5% in pre-market trading, and have fallen 23% over the past 12 months.
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