Alibaba Wants To Buy Back 40% Ownership By Yahoo!
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Chinese e-commerce service Alibaba.com management execs revealed that they want to buy back 40% ownership in their own company that is held by Yahoo! Inc. (NASDAQ:YHOO). After that Alibaba Group wants to get listed on the mainland China stock exchange.
The Alibaba Group has a variety of Chinese Internet businesses that include Alibaba.com and Taobao, an eBay-like service in China. However Yahoo! has no interest in selling back their stake. Yahoo! bought the stake for $1 billion in 2005. Alibaba became responsible for Yahoo! China after the investment was made.