China’s tech M&A sidelines global banks

Western banks were left out in the cold when Didi Chuxing took over Uber China, and this is a trend that looks likely to continue —EPA.

WESTERN investment banks already have a healthy “Fear of Missing Out” on business in China. The country’s technology giants should sharpen that anxiety.

Some big deals are now bypassing banks entirely — like the US$35bil union of Didi Chuxing and Uber China. That means no fees, no kudos, and less chance of lucrative follow-on work, like share sales.