Fox Sports writes that an investment by Chinese conglomerate Alibaba Group Holding Ltd.
would be a big deal for the tech giant and help it expand into the US market.
The investment, worth up to $1 billion, would be made through a $5 billion loan from the China Development Bank, Fox Sports reported.
Alibaba, which is also the parent company of China Mobile, has a strong interest in the US, as it is currently a leading player in the mobile sector.
Fox Sports reported that it has been told the loan is “one of several loans that Alibaba may need to complete as part of the deal.”
A deal could be finalized in the next few weeks, but the exact terms have not been determined.
Alphabet, which owns Google and Yahoo, has been working with Alibaba on a deal to acquire Motorola Mobility, which was spun off from Google in 2012.
Last week, Google confirmed the sale of Motorola to Lenovo in a $4.7 billion deal that will create a global tech powerhouse that will help drive the growth of Android and other mobile platforms.