Yahoo! has confirmed its 39 percent stake in Chinese internet portal Alibaba. "Our investment as a shareholder in Alibaba Group is strategic and a great one for our company and our shareholders," said Yahoo CEO Carol Bartz in a statement. Yahoo is supportive of Alibaba's operational direction and management led by Jack Ma, she added. However, the company declined to comment on recent reports that Alibaba has offered to buy out Yahoo as a shareholder. Yahoo said it would not comment on discussions with strategic partners and any decision on the investment woud be driven by questions of shareholder value. A spokesman for Alibaba told Bloomberg News that the company made the proposal in May but talks with Yahoo ended in June. Alibaba has decided to shelve the proposal for the moment, he said.
