Battle of the strategics
We have grown accustomed to China’s incumbent internet giants engaging in M&A. Since 2010, the BATS – Baidu, Alibaba Group, Tencent Holdings and Sina – have deployed around $6.5 billion (and that’s just disclosed transactions), eight times the amount spent in the preceding eight years.
Financial institutions make an interesting addition to the mix. Last week an affiliate of Ping An Insurance Group acquired SmartPay, one of the country's leading mobile payment providers. The investment...
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