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China’s Alibaba to Buy Back Shares from Yahoo

Posted May 21st, 2012 at 12:15 am (UTC-5)
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Yahoo says it will sell about half of its stake in Alibaba, China’s largest e-commerce provider, back to the Chinese company for $7.1 billion. The two companies said Sunday that, under the agreement, Yahoo would get $6.3 billion in cash and approximately $800 million in Alibaba preferred stock. Yahoo says it plans to return “substantially […]

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