Home › DMW Daily › September 14, 2009

Yahoo Selling Stake in China's Alibaba.com for $150 Million

Authored by Mark Hefflinger on September 14, 2009 - 8:26am.
Sunnyvale, Calif. - Yahoo (NASD: YHOO) is selling its 1.4% stake in Chinese online retailer Alibaba.com for $150 million, The Wall Street Journal reported.

Yahoo still will own a 39% stake in Alibaba.com parent company Alibaba Group.

The Journal postulated that the deal is going down now because a post-IPO lockdown period on sales of Alibaba shares recently passed, and noted that Yahoo will see a return of 47% over the IPO price on its Alibaba.com shares.

"We are pleased to learn of the Yahoo decision, because broader ownership of Alibaba.com, with increased liquidity and support among institutional investors, is what we hoped to achieve when we released the cornerstone investors," Alibaba spokesman John Spelich told The Journal.

 

Related Links:
http://online.wsj.com/article/SB125292627571508277.html

http://www.alibaba.com

Published in DMW Daily, September 14, 2009
tags: Deals | Yahoo | China | Retail | Alibaba.com |



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