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Article: YAHOO!, ALIBABA.COM COMPLETE BUSINESS COMBINATION
- Article from:
- AsiaInfo Services
- Article date:
- November 4, 2005
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AsiaInfo Services
11-04-2005
Yahoo!, Alibaba.com Complete Business Combination
BEIJING, Nov 04, 2005 (SinoCast via COMTEX) -- Yahoo! Inc., a leading global Internet company, and Alibaba.com Corp., China's largest e-commerce company, jointly announced the completion of their business combination in China.
Both sides had entered into a Stock Purchase and Contribution Agreement, which has been revised recently.
Pursuant to the terms of the SPCA, Yahoo! now owns 40 of the outstanding shares of Alibaba on a fully-diluted basis with 35 voting rights, making it the substantial shareholder and strategic ...