Alibaba to raise USD 3 bln to buy back Yahoo stake - report

Nieuws Breedband China 10 FEB 2012
Alibaba to raise USD 3 bln to buy back Yahoo stake - report
Chinese internet company Alibaba Group is trying to raise USD 3 billion to buy back the Yahoo stake in the company. Yahoo owns 40 percent in Alibaba and the company is in talks with around six banks to raise the USD 3 billion, Dow Jones writes citing sources familiar with the situation. The six banks are in the process of getting internal credit approval to underwrite the loan and expect to finalise this by the end of February. Yahoo has for some time been seeking ways to sell off its Asian investments.

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Internet

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Alibaba

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