Clifford Coonan, Irish Times
China’s Alibaba has filed what is shaping up to be the largest technology debut in history, when the e-commerce giant makes its initial public offering in New York. Analysts estimate the IPO will value Alibaba, which runs 80 per cent of all e-commerce in the world’s second-largest economy, at between €98 billion and €177 billion. In a country where steel production was for so long the yardstick of success, electronics is now the king. Or at least, electronics are now party secretary in this nominally Communist country. At the top of the range of forecasts, the company would rank behind only Google among the most valuable internet companies, outranking Amazon and Facebook.
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