Monday, December 31, 2007

More on Alibaba and Europe

It has really been the year of Alibaba, so appropriate that we go out on another note about them. There's an interesting snippet on Thomson Financial (reposted here by Forbes) in which David Wei reportedly tells the FT Deutschland that the company will spend "about" 60% of its US$1.7 billion IPO proceeds on acquisitions.

Wei goes on to say that "we have decided to invest more in Europe", adding "with more than 20 million SMEs, Europe is a very important market for us".

This follows a report we ran in early October about the opening of their Geneva office and VP Kenneth Liu's comment "I see the day coming where a major share of trading in Europe will take place on our website”.

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