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Alibaba IPO in sight? Founder Jack Ma buys back Yahoo stake Monday, 21st May 2012
Speculation that the Alibaba Group could be gearing up for an initial public offering is rife after it emerged founder Jack Ma is buying back up to half of a 40 per cent stake from Yahoo for USD 7.1 billion.
Reuters on Monday reported that Yahoo will sell half its stake in the Chinese e-commerce leader for at least USD 6.3 billion in cash and up to USD 800 million in new Alibaba preferred stock.
The deal will put an end to the increasingly rocky relationship held between the two companies, as Alibaba sought ways to reclaim some or all of the 40 per cent staje Yahoo bought for around USD 1 billion in 2005.
A source cited by Reuters has said Yahoo built in incentives for Alibaba to hold an initial public offering by the end of 2015.
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Posted in Deals and Takeovers, E-Commerce, Online retail Tagged retail, news, alibaba, yahoo, ipo, deal, initial, public, offering, stock, trade, e-commerce
