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Yahoo Sells 20% of Alibaba for $7 Billion

3:51 am on May 21, 2012 (gmt 0)

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Yahoo and Alibaba Officially Shake on $7 Billion Stock Sale Deal [allthingsd.com]

Yahoo and Alibaba Group have finally reached an agreement for the Silicon Valley Internet giant to sell back half its stake in the Chinese Web company in a $7 billion deal.

The taxable share sale agreement, which is now being approved by both boards, is part of a larger and more complex arrangement, which will also include a multibillion-dollar share buyback by Yahoo and an eventual IPO of Alibaba.

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