Yahoo Closes $7.6 Billion Deal with Alibaba Group
Yahoo will live up to its promise to pay its shareholders most of the money from a $7.6 billion deal with the Chinese Internet company Alibaba Group.
Yahoo will live up to its promise to pay its shareholders most of the money from a $7.6 billion deal with the Chinese Internet company Alibaba Group.
Shares of Yahoo have been on a white-knuckled roller-coaster ride since the company hired an investment banker to explore shareholder-juicing possibilities, including an outright sale. Reuters has claimed that Microsoft is considering another run at its search partner, but Bloomberg dissents. Who else might buy the dot-com giant?
Alibaba Group CEO Jack Ma told the the AllThingsD D9 conference that Yahoo should be broken into pieces. Ma may be in the midst of a beef with the search company, which holds a major stake in his firm, but despite the idea's source, a break-up could make sense financially.
Yahoo's analyst day Wednesday addressed the steps the struggling Internet pioneer is taking to reposition the ship and revive its sagging stock, but on the subject of a controversial transaction involving one of its major Asian investments, its executives left a number of questions unanswered.
Yahoo shares were on the rise this morning after a Susquehanna analyst wrote that the company might be looking to unload its 39% stake in Chinese tech company Alibaba Group. Yahoo says it's not true.
Yahoo seems to be having trouble keeping its Asian partners happy. After South Korean and Japanese partners announced plans to ditch the Internet giant last month, Alibaba now says it may reconsider its partnership as well.
Google's headaches in China just won't go away. Chinese news agency Xinhua has teamed up with the country's largest telecom carrier, China Mobile, to create a new search and international media company.
Google is now investigating whether some of its own employees helped carry out the recent cyber-attack in China, which exposed Gmail accounts of U.S. companies and Chinese dissidents. News reports also say foreign reporters based in China were targeted by the hackers, too.
Yahoo was drawn into the growing cyber-war between Google and the Chinese government after it declared its support of the U.S.-based search giant. Google threatened to pull out of China after it became the victim of a massive cyber attack that is believed to be masterminded by the Chinese government.









