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Alibaba Set To Buy $7 Billion Stake From Yahoo

Alibaba Set To Buy $7 Billion Stake From Yahoo

Enterprise & IT May 20,2012 0

China's largest e-commerce provider Alibaba is reportedly close to an agreement to buy back a 20 percent stake from Yahoo for about $7 billion. Reducing the Alibaba stake lessens Yahoo?s toehold the world's largest Internet market (China).

Yahoo currently owns a 40 percent stake in Alibaba so the current proposal under discussion would cut that holding in half.

Both Yahoo and Alibaba declined to comment on Bloomberg's report.

Tags: YahooAlibaba
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