Alibaba said to be looking for up to $4bn loan

Chinese internet company Alibaba Group Holding is reportedly in talks with banks for a loan up to $4bn to fund expansion plans including acquisitions.

The Wall Street Journal cited people familiar with the matter as saying that the discussions, involving several banks, started with plans for a $3bn loan but this could be raised by another billion.

The WSJ said the loan was expected to be finalised in March.

Alibaba has spent billions of dollars on investment and acquisitions over the past year, both in China and in overseas markets. It has also been branching out into other areas such as online video and local services.

At 1610 GMT, Alibaba shares were up 1.2% to $67.88.