Yahoo to sell half of its Alibaba stake for $7.1 billion
Mon, 05/21/2012 - 01:01 EDT - LA Times
The move could help it appease shareholders by enabling it to pay dividends or buy back its own shares.HONG KONG — Struggling Internet company Yahoo Inc. has agreed to sell half of its 40% stake in Chinese e-commerce group Alibaba for about $7.1 billion.
(HONG KONG) — Struggling Internet company Yahoo Inc. has agreed to sell half of its 40 percent stake in Chinese e-commerce group Alibaba for about $7.1 billion. The deal, announced Sunday in the U.S., will see Alibaba Group buying back the stake from Yahoo Inc.
HONG KONG (Reuters) - Sovereign wealth fund China Investment Corp (CIC) is in advanced talks to buy an up to $2 billion stake in Alibaba Group , sources told Reuters, as the Chinese e-commerce powerhouse looks to secure the last of the funding it needs to buy back part of its stake from Yahoo Inc . Yahoo and Alibaba struck a deal last week whereby the Chinese company agreed to buy back up to half of the 40 percent stake in itself held by Yahoo for $7.1 billion, valuing Alibaba at $35 billion. Alibaba is raising $4. ...
Italian luxury house Prada is planning to sell a 20 percent stake on the Hong Kong stock exchange in a move that would value the group at up to eight billion euros.The fashion group filed a request for its highly anticipated public offering to the Hong Kong Stock Exchange late on Wednesday, a source close to the company told Dow Jones Newswires said Thursday.Should Prada successfully sell the 20 percent stake to Hong Kong investors, the company's would be valued at between seven and eight billion euros ($9.9-11.3 billion), the source said.