Another record year of deals seen for China trio

Taipei

CHINA's three biggest Internet companies could be set for another record year of deals as their cash piles swell, unprofitable startups sell out and consolidation sweeps the crowded industry.

Alibaba Group Holding Ltd, Tencent Holdings Ltd and Baidu Inc could draw on more than US$80 billion for mergers and acquisitions in 2016, according to analysts at BNP Paribas SA. That could enable them to easily surpass the record US$30 billion spent this year according to Bloomberg data, as they buy their way into so-called online-to-offline Web services such as delivery services and physical retailing.