Alibaba plotting to buy back Yahoo's stake
20 March 2008
Chinese internet company Alibaba Group is in advanced discussions with investors to finance its purchasing back of the 39% stake Yahoo owns in the group, the Wall Street Journal reported. It is believed that Alibaba seeks to expand its management independence from Yahoo should Microsoft succeed in its cash-and-stock offer to buy out the California-based firm. Alibaba's executives are concerned that Microsoft's size and management style could clash with the Chinese firm's autonomy. Jack Ma's Alibaba would finance the roughly US$8 billion purchase with the help of two lead investors and a group of others, including large Chinese institutions, say those familiar with the matter.
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