“Alibaba Group Holding Ltd. (ALIBABZ), in talks to buy back a stake owned by Yahoo! Inc. (YHOO), offered as much as HK$19.6 billion ($2.5 billion) to privatize a listed unit and gain full control of China’s biggest corporate e-commerce site.
The company bid HK$13.50 a share for the 27 percent of Alibaba.com Ltd. (1688) it doesn’t already own, according to a Hong Kong Stock Exchange statement today. That’s a 46 percent premium to the last closing price.
Alibaba Group Chairman Jack Ma may take over the listed unit and purchase the Yahoo stake as he tries to turn around the company after a fraud scandal and drop in subscriptions. Alibaba.com today reported quarterly profit that missed estimates and predicted that vendor growth would slow….”
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