Report: Alibaba wants to buy Yahoo's stake in the company

Chinese Internet company believes Microsoft eventually will buy Yahoo

China's Alibaba Group is looking for investors to buy Yahoo's 39 per cent stake in the Internet company, according to the Reuters news service.

According to Reuters, a person with direct knowledge of the situation outlined a plan intended to keep Microsoft from getting the Alibaba stock owned by Yahoo.

The source told Reuters that Alibaba is making the move because it believes Microsoft is likely to win its US$42.4 billion takeover battle to buy Yahoo. And if that happens, Alibaba would prefer increased independence, the person told Reuters.

Yahoo said it had no comment on the Alibaba talks and Microsoft could not be reached for comment. Alibaba also could not be reached for comment.

According to Reuters, Alibaba feels that the agreement it signed with Yahoo in 2005 gives it a "right of first offer" to buy Yahoo's stake, a clause that would be invoked if Microsoft buys Yahoo. Under the deal, Yahoo merged its Chinese operations into Alibaba in exchange for the 39 per cent stake in Alibaba Group.

Another source told the news agency that Yahoo's top three executives, CEO Jerry Yang, President Susan Decker and CFO Blake Jorgensen, are meeting with major US institutional investors to garner support for its position that the Microsoft offer undervalues the company.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Linda Rosencrance

Computerworld
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?