Yahoo Sells Alibaba Stake
Sunnyvale-based Yahoo said over the weekend that it is selling its stake in Alibaba, a deal expected to provide the firm with approximately $7.1 billion. The deal is made up of $6.3 billion in cash, plus up to $800M in Alibaba preferred stock. The shares represent up to one-half of its stake in Alibaba, or approximately 20 percent of Alibaba's fully diluted shares. Yahoo said it intends to return "substantially all" of the proceeds to its shareholders.
posted on Monday, May 21, 2012
Related companies:
Yahoo
Related stories:
> Yahoo Nixes Alibaba Spinoff Plans
> Yahoo's Jerry Yang Departs Firm
> Verizon Buys Yahoo For $4.83 Billion
> Yahoo Sells HotJobs To Monster
> Report: Yahoo Plans Investment in Snapchat
silicontap.com Home