HONG KONG (AP) ? Yahoo has agreed to sell half of its 40 percent stake in Chinese e-commerce company Alibaba for about $7.1 billion.
The deal will see Alibaba Group buying back the stake from Yahoo Inc. for $6.3 billion cash and up to $800 million of Alibaba preference shares.
The two companies have an agreement for Yahoo to sell the remainder of its Alibaba stake in stages later on.
Associated Press
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.