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By Mangosuthu Buthelezi
Memories of a long brotherhood tempered in common struggle
Independent voices from the The Washington Times Communities
Topic - Alibaba Group Holding Ltd.
Yahoo has completed a long-awaited $7.6 billion deal with China's Alibaba Group, generating a windfall that could help ease the pain of Yahoo shareholders who have endured the company's foibles during the past few years.
Chinese e-commerce firm Alibaba Group's $2.5 billion bid to take its Hong Kong-listed unit private was cleared Friday by minority shareholders, easing the way for CEO Jack Ma to gain more control over his company's destiny.
After years of mortifying missteps, Yahoo Inc. finally has something to boast about: a multibillion-dollar windfall from a savvy investment in China.
Shares of Alibaba.com rocketed on Wednesday after the Chinese e-commerce site said its parent company made a $2.5 billion privatization bid as part of a shift in business strategy that also includes plans to buy back a stake from Yahoo Inc.
Alibaba.com's parent company wants to take the Chinese e-commerce company private for $2.5 billion, the firms said Tuesday, part of a shift in business strategy that also includes plans to buy back a stake from Yahoo Inc.
Alibaba Group and Japan's Softbank will go directly to Yahoo's chief executive, bypassing negotiators from the U.S. Internet company, after talks over the sale of Yahoo's Asian holdings broke down, a person familiar with the negotiations said Wednesday.
A bounce back in materials and financial companies erased early losses in the stock market Monday.