When you are the world's largest online marketplace your loans also take on pretty substantial numbers. Wall Street Journal today reports that Alibaba is in talks with banks for a loan of up to $4 billion.
The loan is, according to WSJ sources, meant for further expansion plans and acquisitions.
Already Spent Billions
Alibaba has since its IPO in the US spent billions of dollars on investments and acquisitions all over the world. Now the Chinese e-commerce giant apparently needs to fill up the war chest.
Several banks are involved in the new loan that WSJ says starts at $3 billion but could increase to $4 billion.
Over $4 Billion on One Investment
Even though the loan is huge Alibaba last year spent 4.5 billion on just one investment in Suning.com, which we reported yesterday is the 10th largest e-retailer in the world. They also sold for $14.3 billion in one single day last year.
The new loan is expected to be finalized next month according to Wall Street Journal's sources.