Chinese internet giant Alibaba could spend up to $38 billion on acquisitions in 2016
AP Images
Alibaba CEO Jack Ma.
The company, which has a market value of $209 billion (£137 billion), spent around $15 billion (£9.8 billion) on mergers and acquisitions in 2015.
The figure, which is compiled by analysts for BNP Paribas SA, comes from the available cash flow of the company, combined with its current cash hoard.
Alibaba has many different businesses, including a social network, an Amazon-like e-commerce arm, and a logistics firm.
Tencent and Baidu, two other Chinese companies, are also looking to increase the amount spent on acquisitions and investments. The companies have a war chest of $35 billion (£23 billion) and $15 billion (£9.8 billion) respectively.
Alibaba was one of the hottest public stock offerings of 2015, raising $22.1 billion (£14.7 billion) and valuing it at over $200 billion. The company posted strong results in third quarter of 2015 with net income reaching $3.6 billion (£2.4 billion).
Next Story
Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
Markets snap five-day rally, Sensex tumbles over 600 pts
Southern India faces water crisis as reservoir levels plunge to just 17% capacity: CWC
Indian heart beats inside Pakistani woman, 19-year-old from Karachi undergoes heart transplant in Chennai
Rupee falls 7 paise to settle at 83.35 against US dollar
Vegetable prices to remain high until June due to above-normal temperature
