Monday, May 21, 2012

Yahoo agrees $7.1bn Alibaba deal | The Top News | Only Top News of the Day

Yahoo agrees $7.1bn Alibaba deal | The Top News | Only Top News of the Day: "US internet company Yahoo said it has reached a deal to sell part of its stake in China’s largest internet company Alibaba Group.
Alibaba will buy back half the 40% stake owned by Yahoo, following years of negotiations.
The deal will raise about $7.1bn (£4.5bn) for Yahoo, which has been losing ground to rival Google and Facebook in online advertising.
The agreement also allows Alibaba to consider an initial public offering."

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