Alibaba U.S. IPO Near, But Will Tencent Rule China?
Even as Alibaba gears up for a historic U.S. IPO, the e-commerce giant is waging an intense battle for supremacy at home — and it may be the underdog. Tencent (TECHY) and Baidu (BIDU) on Friday officially announced an e-commerce joint venture with real estate and entertainment conglomerate Dalian Wanda Group. The deal is similar to one that Alibaba Group forged earlier this year with a large operator of department stores and