Yahoo Is Paying $1 Billion for 40% Stake in AlibabaStepping 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 Alibaba.com 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.
Posted: Thu - August 11, 2005 at 07:46 AM |
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Total entries in this category: Published On: Sep 13, 2005 07:22 PM |
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