Yahoo to sell half of its Alibaba stake for $7.1B
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Yahoo Inc. has agreed to sell half of its 40% stake in Chinese e-commerce group Alibaba for about $7.1 billion, and the struggling US Internet company said it would return most of the cash to shareholders.
The deal, announced Sunday in the US, will see Alibaba Group buying back the stake from Yahoo Inc. for $6.3 billion cash and up to $800 million of Alibaba preference shares. (AP)
