Alibaba drops offer for Yahoo stake

Monday 20 September 2010 | 09:19 CET | News
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

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Categories: Internet
Companies: Alibaba / Yahoo!
Countries: China
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