Shares in internet giant Yahoo have risen over 5% after reports that it is close to selling its stake in Alibaba Group, the Chinese e-commerce company.
Yahoo is preparing to sell half its 40% stake back to Alibaba, according to AllThingsD.com, citing sources close to the deal.
The sale, which could raise about $7bn (£4.4bn) for Yahoo, would involve a share buy-back followed by an eventual flotation of the Chinese group.
Yahoo shares were up 5% at $15.60.
The deal would be a welcome piece of excellent news for the struggling US internet company."
'via Blog this'
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