Internet giant Yahoo ha sold off a 1.14 percent stake in the Chinese Internet portal Alibaba.com for a cool $150 million—but insists Alibaba remains Yahoo’s preferred way to tap into China’s massive and ever-growing Internet market, and that Yahoo plans to hang on to its remaining 40 percent stake in the operation.
Tag Archive: Jack Ma
Yahoo Sells Off $150 Million of China’s Alibaba.com
Alibaba To Weigh In On Microsoft-Yahoo Deal
Although the company has so far refused to make any comment on Microsoft’s unsolicitied bid to take over Yahoo for $44.6 billion, Chinese Internet portal Alibaba is reportedly positioning itself to retain independent control of its operations should the deal go through.
Yahoo owns a 39 percent stake in Alibaba—making it Alibaba’s single largest shareholder, ahead of Japan’s Softbank—and the company runs Yahoo’s operations in China as well as several other Internet businesses. Alibaba chairman Jack Ma has retained de facto control over the company’s operations. According to industry reports and sources close to Yahoo’s China operations, Alibaba would seek to retain control of its own operations in the event Microsoft acquires Yahoo, even to the extent of buying out of Yahoo’s investment in the company.
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