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Report: Alibaba Wants To Take HK Unit Private

     
1:59 pm on Feb 10, 2012 (gmt 0)

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Report: Alibaba Wants To Take HK Unit Private [uk.reuters.com]
Chinese e-commerce group Alibaba plans to take private its Hong Kong-listed unit, two sources familiar with the matter said, as part of a complex deal that would strengthen founder Jack Ma's control and give key stakeholder Yahoo cash and a direct stake in one of Alibaba's operating businesses.

Alibaba Group, the online business-to-business group set up in 1999 by former tour guide and now billionaire Ma, plans to buy back most of the 40 percent stake in it that Yahoo bought for around $1 billion in 2005.