選邊站! 阿里巴巴和騰訊要求投行只能支持自己!

Tencent and Alibaba's fierce rivalry has extended into the world of investment banking, with China's dominant tech duo demanding that bankers working for them avoid doing so for their rival.

騰訊和阿里巴巴的激烈競爭如今已蔓延到投資銀行界，這兩家統治中國科技市場的巨頭都要求銀行家爲自己而不要爲對手服務。

The requirements have in effect split investment banks into two camps, said several people with knowledge of the matter, highlighting the companies' clout in virtually every sphere of China's economy as well as their prolific dealmaking.

幾名知情人士表示，這樣的要求實際上已把投資銀行分成兩個陣營，這凸顯出這兩家公司在中國幾乎每個經濟領域的影響力，以及涉及這兩家公司的併購交易之豐富。

Ant Financial, the Alibaba payments affiliate that is closing a $10 billion funding round, made a number of banks sign "very restrictive non-compete" agreements preventing them from working for Tencent entities, said one banker.

一名銀行家表示，阿里巴巴支付業務的子公司螞蟻金服要求一些銀行簽署“限制非常嚴格的非競爭”協議，協議規定它們不得爲騰訊的實體提供服務。螞蟻金服正接近完成100億美元的新一輪融資。

Another person familiar with the matter said the tech titans "value loyalty" and so did not want to hire bankers who were "going to be a service provider to competitors that will work against you when you do (a request for proposal) for the next deal".

另一名知情人士表示，這些科技巨頭非常“看重忠誠”，因此不想僱傭那些“將成爲競爭對手的服務提供商、會在你爲下一筆交易（徵求建議）時對你不利的”銀行家。

Tencent and Alibaba have large teams of in-house bankers, many plucked from Goldman Sachs -- whose alumni also furnish the top management -- which restricts the business meted out to external banks. Fees on initial public offerings have also dropped sharply.

騰訊和阿里巴巴都有大型的企業內銀行家團隊，其中許多人是從高盛挖來的--兩家公司的高管層也有前高盛人士--因此交付給外部銀行來做的業務是有限的。IPO的佣金也已大幅降低。

The conditions were relaxed when the agreement lapsed but the guidelines have persisted, especially when it comes to transactions because of its direct competition in ecommerce with Alibaba, the person said.

知情人士稱，這份協議失效後上述條件就放鬆了，但其指導原則仍然存在，尤其是在涉及京東的交易時，因爲京東在電商領域對阿里巴巴構成了直接競爭。