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Article: Yahoo to buy stake in Chinese merchantA $1 billion agreement with Alibaba.com creates a fierce rival for eBay and Google
- Article from:
- International Herald Tribune
- Article date:
- August 12, 2005
- Author:
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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David Barboza
International Herald Tribune
08-12-2005
Stepping up its presence in China, Yahoo said Thursday that it would pay $1 billion in cash and hand over its China operations to Alibaba.com in exchange for a 40 percent stake in Alibaba, China's largest e-commerce company. The deal is expected to create the largest Internet company in China. It will also create a fierce new rival in China for Google and eBay, which are also expanding their operations here. Yahoo's deal with Alibaba.com marked the largest foreign investment ever made in a Chinese technology company. The investment comes at a time when some of the world's biggest technology companies are racing to get a foothold in ...
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Article: Writethru: Alibaba acquires Yahoo China,aiming at ...
Xinhua News Agency;
August 11, 2005 ;
663 words
...Writethru: Alibaba acquires Yahoo China,aiming at world level ... Chinese language search engine. Alibaba and Yahoo will aim to find a search engine ... seats in its board, two from Alibaba, one from Yahoo and one from SoftBank, a major ...
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