Moreover, Alibaba are also brewing to have formal discussions with more investors within the week. The company plans to repurchase part of the stake held by Yahoo! if the latter is acquired by Microsoft Corporation, added the insider.
In early 2008, Microsoft made an offer for Yahoo! but was rejected by the latter's board. The repurchase of the ownership, noted the source, will enhance the position of Jack Ma, who is the founder of Alibaba and now responsible for management. However, the repurchase will be possible only after Yahoo! is acquired by Microsoft.
Yahoo!, the largest single shareholder of Alibaba, currently owns a 39 percent in the Chinese company. Meanwhile, Japan's Softbank Corp and Alibaba's manage team led by Jack Ma respectively takes a 28 percent and a 33 percent stake.
From homeway.com, Page 1, Thursday, March 20, 2008 info@SinoCast.Com
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