Yahoo! Inc. is going to sell its 1.14% stake in Alibaba.com for around 150 million of US$ keeping its 40% stake in Alibaba Group. The Chinese group is a family of Internet-based companies and it is not listed on any stock exchange. Alibaba Group is parent company of Alibaba.com, Taobao.com, Alipay.com, Alisoft.com and China Yahoo!. Back in 2005 Yahoo! paid more than 1 billion of US$ investing in Alibaba Group. Now, it is previewed to sell 57.48 million shares of Alibaba.com at 19.80-20.30 HK$ (2.55-2.61 US$) per share. Alibaba Group was founded in 1999 by Jack Mareaches and it has Internet users Worldwide employing 15,000 persons in Greater China, USA, UK, Japan and South Korea.
TICKERS:
Yahoo! Inc.: Nasdaq GS: YHOO
Alibaba.com Limited: HKSE: 1688.HK
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