Yahoo to give US$1 billion in China deal
(Reuters)
Updated: 2005-08-10 18:52

Chinese e-commerce operator Alibaba.com is in the late stages of talks to sell a 35 percent stake to Yahoo Inc. in return for $1 billion and Yahoo's entire China operations, a source close to the discussions said on Wednesday, reported Reuters.

Chinese e-commerce operator Alibaba.com is in the late stages of talks to sell a 35 percent stake to Yahoo Inc. in return for $1 billion and Yahoo's entire China operations, a source close to the discussions said on Wednesday. The deal is in the final hours of discussions, the source told Reuters, speaking on condition of anonymity. In this file photo taken November 9, 2000, Yahoo! co-founder Jerry Yang answers questions during a news conference in Taipei. [Reuters]

The deal is in the final hours of discussions, the source told Reuters, speaking on condition of anonymity.

The combination would create an e-commerce giant by bringing together Alibaba's business-to-business and consumer online auction sites with Yahoo's search operations, China's second largest after leader Baidu.com.

A spokesman from Alibaba and a spokeswoman from Yahoo both had no comment.

A deal would mark an end to Yahoo operating a venture in China on its own, swapping its country operations in exchange for a structure more similar to Yahoo Japan Corp. (4689.T), in which the U.S. search giant holds a 33 percent stake while Japan's Softbank (9984.T) holds a controlling 42 percent.

Softbank is also an investor in Alibaba, and is said to have been a broker in the current talks, according to previous media reports.

Page:

1

2

Close

Chimpanzee suffers from smoking addiction The tide is high but they're holding on China, Russia military drills stage landing

Today's Top News     Top China News
EU, China begin talks on textile row         Joint forces storm beaches at climax of drills         Taiwan students on mainland given level fees         Japan, China to jointly develop 4G mobile         China says market to decide yuan's value         CCTV sends record invitations for festival	Temasek close to buying BOC stake - FT       N. Korea nuclear talks likely as planned       Japan, China to jointly develop 4G mobile       Two bus accidents claim 33, injure 56       NPC debates further raising tax threshold       Farmers protest over alleged lead poisoning