WSJ: Alibaba seeking $4b to expand

Chinese e-commerce giant Alibaba Group Holding Ltd is in talks with several banks to borrow up to $4 billion to fund expansion plans, including acquisitions, the Wall Street Journal reports. Sources told the Wall Street Journal that Alibaba initiated talks with banks with requests by up to $3 billion, but that the figure has since increased to as much as $4 billion, in 2015 the corporation spent billions of dollars on the development of business and acquisition of other companies in China and abroad.