Monday, August 15, 2005

Alibaba Ties up with Yahoo

CRIENGLISH.com
2005-08-12

Yahoo! will pay one billion US dollars in cash for a 40 percent stake in China's biggest online retailer, Alibaba.com. It's the largest online acquisition in China. CRI's Shanghai coorespondent explores what the partnership will mean for both companies and how it will affect China’s online industry.

Under the deal, Alibaba will take control of Yahoo’s Chinese internet operations.

Yahoo will get about 40 percent economic interest with 35 percent voting rights, making it the largest strategic investor in Alibaba.com. read more

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