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, which holds roughly 40% of Alibaba's Chinese parent, Alibaba Group Holding, had been pining for an IPO of the e-commerce giant's sister company, Taobao. Now, though, with a fraud probe underway, Yahoo's chances of cashing in on an IPO just got slimmer.
A group of private-equity investors is calling on the CEO of Chinese Internet giant Alibaba Group to throw his support behind a buyout offer for Yahoo, Reuters reports. Alibaba founder Jack Ma is reportedly considering his options regarding the U.S. firm that holds a 40% stake in his company.