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Article: YAHOO! TO BUY ABOUT 35% STAKE IN ALIBABA FOR ALMOST USD1BN
- Article from:
- AsiaInfo Services
- Article date:
- August 10, 2005
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AsiaInfo Services
08-10-2005
Yahoo! to Buy About 35 Stake in Alibaba for Almost USD1bn
BEIJING, Aug 10, 2005 (SinoCast via COMTEX) -- Web media company Yahoo! Inc. is weighing a plan to buy about 35 stake in Alibaba for approximately USD 1 billion, making the largest ever acquisition by a foreign company in China's Internet industry to date, reported the world's best-known business magazine Forbes.China's biggest homegrown e-business company Alibaba currently operates two online business sites--Taobao.com, an online auction site, and Alibaba.com, an online trading site.The talk between Yahoo! and Alibaba are complicated as it ...