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 newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Mergers and acquisitionsinternetbusiness issuessearch enginesYahooSoftbankInternet service providersAlibaba Group

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

Michael Kan

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?