Yahoo Is Paying $1 Billion for 40% Stake in Alibaba

Stepping up its presence in China, Yahoo Inc. said on Thursday that it would pay $1 billion in cash and hand over its operations in China to in exchange for a 40 percent stake in China's largest e-commerce company. The deal is expected to create the largest and most diversified Internet company in China. It will also create a fierce rival for Google and Ebay, which are also trying to expand their operations in China.

Source: NYTimes


Posted: Thu - August 11, 2005 at 07:46 AM