In a sign of just how overheated M&A in China’s tech sector has become, 2 major purchases by e-commerce giant Alibaba (NYSE: BABA) and online travel leader Ctrip (Nasdaq: CTRP) are receiving scant attention from investors, even though they are worth nearly $1 billion combined. Instead, the big news grabber is another headline involving Alibaba, with word that the world’s second largest Internet firm has just become one of a handful of private Chinese companies to win new private sector banking licenses being awarded by Beijing. That development will see Alibaba and several partners open an Internet-based bank that will cater to smaller savers and borrowers, an area often neglected by the current field of big state-run lenders. Read Full Post…
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