There is an investment war going on in between the major tech companies of China including Alibaba Group Holding Ltd (NYSE:BABA), Tencent Holdings Ltd (HKG:0700), and Baidu Inc (ADR) (NASDAQ:BIDU). Each of these companies is trying to transform into a one-stop shop for the world’s largest internet user market. According to a recent research, Alibaba…
Alibaba Group Holding Ltd (BABA) Joins Tencent Holdings Ltd (0700) In Raking Investments For Ping An Insurance
Both Alibaba Group Holding Ltd (NYSE:BABA) and Tencent Holdings Ltd (HKG:0700) joined hands to invest in Ping An Insurance (Grp) Co of China Ltd. (HKG:2318). The insurance company raised $4.7 billion out of the deal and registered as one of the largest share offerings in Hong Kong during the financial year. Ping An Insurance is…