SAN FRANCISCO/NEW YORK (Reuters) - Investors are looking over portfolios to make room for Chinese e-commerce giant Alibaba Group Holdings Inc's market debut next month - and that means some less attractive stocks that funds are holding might be shown the door. The initial public offering, which could top $16 billion to become the largest-ever IPO by a technology company, is expected as early as next month after Alibaba management kicks off a two-week investor road show after the Labor Day weekend. "There won't be wholesale turnovers of portfolios, but I imagine Amazon is being looked at," he added. Chinese rivals like Baidu Inc and Tencent Holdings Ltd also may be pressured if fund managers view Alibaba, which powers 80 percent of all online commerce in China, as a better path to tap into growth in the world’s second-largest economy.
via Business News http://ift.tt/1sx4HO1
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