Published on 21st May 2012
“Yahoo Inc struck a deal late Sunday to sell up to half of its stake in Alibaba Group Holding Ltd. back to the Chinese company for $7.1bn, finally succeeding after multiple attempts to wind down a seven-year relationship that had recently soured. Under the agreement, Yahoo will sell up to half of its 40% stake in Alibaba in a taxable transaction, according to the companies. Yahoo would get $6.3bn in cash and around $800m in Alibaba preferred stock. The deal would net Yahoo around $4bn after taxes, people familiar with the matter said,” according to the Wall Street Journal.