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- Yahoo to sell half of its Alibaba stake for $7.1 billion
Yahoo to sell half of its Alibaba stake for $7.1 billion
By Associated Press | Updated: 5 June 2012 11:59 IST
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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.
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.
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