Alibaba CEO David Wei: will be in the country to start mergers and acquisitions

"Sohu It News" Beijing time August 14 news, according to foreign media reports, Alibaba CEO Wig Zheben Thursday hinted that the forthcoming merger in China, it is possible to announce the results of the merger within a few months.

Even after distributing special dividends, Mr. Wei said, the company still had a large amount of money to use to carry out mergers and acquisitions activities. "We have been trying to find investment opportunities in the past few months and are likely to announce results in the next few months," he said in a conference call for the two quarterly earnings of Alibaba 2009. "Even after the dividend has been distributed, we still have 6 billion yuan in cash, enough to invest in the short term," he said. ”

Mr. Wei said the target was not global, and Alibaba would start mergers and acquisitions at home.

Alibaba, whose gold-supplier exports have been boosted by an increase in the number of its members, is up 23.6% per cent in revenue this quarter. According to Analysys Internation, a market-research agency, China's business-to-business E-commerce market reached 14 billion yuan in the 2 quarter, while Alibaba accounted for 62.2% of the market share. Mr. Wei also said earlier this month that the company might be working with India's publishing agency, Infomedia 18, to set up a joint venture in the region.

In terms of membership, India is Alibaba's second-largest overseas market after the US. Alibaba is also planning to implement its first sales and promotional campaign in the United States recently.

Alibaba's share price has climbed three times-fold this year, its rise more than the Hong Kong stock Exchange's Hang Seng index of 45%.