Yahoo, Alibaba talks stalled
- By Yan Pei
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E-mail China.org.cn, February 15, 2012
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Yahoo's talks with Alibaba Group and Softbank collapsed on Monday. [File photo] |
![Yahoo's talks with Alibaba Group and Softbank collapsed on Monday. [File photo]](http://images.china.cn/attachement/jpg/site1007/20120215/001aa0ba5c8510a5b4ff28.jpg "Yahoo's talks with Alibaba Group and Softbank collapsed on Monday. [File photo]")
Yahoo! Inc.'s talks to sell its stake in Alibaba Group and its Japan operations have stalled, foreign media reported, citing people familiar with the matter.
The deal completely collapsed Monday due to complications and sudden changes by Yahoo representatives, said people close to the matter.
Yahoo has been in discussions with Alibaba and Softbank for months trying to conduct the sale without tax penalties, which is also known as a cash-rich split. The deal would help save Yahoo US$4 billion in taxes and fees.
Previously, sources told media that the parties were about a month away from finalizing the deal.
Representatives of Alibaba and Softbank plan to approach Yahoo's chief executive officer Scott Thompson to see if there is another way to let them buy back their stake, sources said.
China's business press carried the story above on Wednesday.
Contact the writer of this story at: yanp@china.org.cn.
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