Alibaba says no decision on joint Yahoo bid

Alibaba is working with Softbank and private equity firms to bid for Yahoo, according to reports

Alibaba Group said it has not decided to be part of a bid for the whole of Yahoo, countering reports that the Chinese company is in talks with private equity firms to make such a bid.

Alibaba and Japan's Softbank are working with private equity firms Blackstone Group and Bain Capital to make a bid for all of Yahoo, said news reports on Wednesday.

Alibaba Group spokesman John Spelich, however, denied the reports. "Alibaba Group has not made a decision to be part of a whole company bid for Yahoo," he said on Thursday.

Softbank declined to comment on the reports. The company holds a 32.6 percent stake in Alibaba. Yahoo holds a 35 percent share in Yahoo Japan, which is a Softbank subsidiary. In August, Softbank sold nearly all of its 4 percent stake in Yahoo to repay a US$1.1 billion loan from Citibank.

In late September, Alibaba Group's CEO Jack Ma said publicly he was interested in acquiring Yahoo, which already owns a 40 percent stake in the Chinese company as part of a deal made in 2005.

Alibaba, China's largest e-commerce company, has previously held talks with Yahoo about trying to buy back that stake, after the two companies have clashed over different business issues. But the talks ended without an agreement.

[Jay Alabaster in Tokyo contributed to this report]

Join the PC World newsletter!

Error: Please check your email address.

Tags business issuesYahooAlibaba GroupinternetInternet service providersMergers and acquisitionsSoftbanksearch engines

Struggling for Christmas presents this year? Check out our Christmas Gift Guide for some top tech suggestions and more.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Michael Kan

IDG News Service

Most Popular Reviews

Follow Us

Best Deals on GoodGearGuide

Shopping.com

Latest News Articles

Resources

GGG Evaluation Team

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Steph Mundell

LIFEBOOK UH574

The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.

Andrew Mitsi

STYLISTIC Q702

The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.

Simon Harriott

STYLISTIC Q702

My first impression after unboxing the Q702 is that it is a nice looking unit. Styling is somewhat minimalist but very effective. The tablet part, once detached, has a nice weight, and no buttons or switches are located in awkward or intrusive positions.

Latest Jobs

Shopping.com

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?