日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

chinadaily.com.cn
left corner left corner
China Daily Website

Alibaba to repurchase 20% holding from Yahoo for $7.1b

Updated: 2012-05-22 10:21
By Gao Yuan ( China Daily)

Alibaba to repurchase 20% holding from Yahoo for $7.1b

A Yahoo billboard is seen in New York's Times Square in this Oct 19, 2010 file photo.[Photo / Agencies]


China's e-commerce giant Alibaba Group Holding Ltd on Monday announced it would buy back some 20 percent of its equity from Yahoo Inc for about $7.1 billion, a move seen as paving the way for an initial public offering.

Although the group said that it has no timetable for an IPO at the moment, Jack Ma, Alibaba's chairman and chief executive officer, said that the transaction will help the company achieve a balanced ownership structure that will allow it to "take the business to the next level as a public company in the future".

Under the agreement, Alibaba Group will pay Yahoo at least $6.3 billion in cash, plus new preferred shares worth up to $800 million, the companies said in a joint statement.

The Hangzhou-based group will hold about 51 percent of its equity after the transaction. The voting rights of Yahoo and Softbank in Alibaba Group will be diminished to under 50 percent as a result of the deal.

Tokyo-based Softbank Corp owns about 30 percent of Alibaba Group.

Alibaba started out as a business-to-business website linking factories in China to buyers around the world. It also operates Taobao.com, the country's version of eBay, and TMall, which brands can use to sell directly to consumers.

"Alibaba Group regained control in the boardroom through this deal, and the company will be able to formulate its own business strategies," said Qi Jianzhe, an analyst at research company Analysys International.

Ma and Alibaba Group tried several times since last year to buy back the stake.

This year alone, Ma has visited the headquarters of the Industrial and Commercial Bank of China Ltd at least three times to seek financing, said a manager in charge of ICBC's enterprise credit business, who declined to disclose his name.

Analysts said that struggling Yahoo was the winner of this deal.

The California-based Web portal said it will return "substantially all of" the after-tax cash proceeds to shareholders following the closing of the transaction.

Although the return of capital to shareholders has not yet been finalized, the board of Yahoo has increased the company's share buyback authorization by $5 billion.

"Yahoo's shareholders have been asking the company to sell some of its Asian assets to boost returns to shareholders for a long time, and the $7-billion earnings will enable the company to distribute bonuses to its shareholders," said Qi.

"We look forward to delivering the proceeds of the near-term transaction to our shareholders, and to the further enhancement of value and the additional monetization in the future that this agreement enables," said Timothy R. Morse, Yahoo's executive vice-president and chief financial officer.

Yahoo is likely to use the rest of the proceeds in its own stock repurchase program and the expansion of new businesses, said Qi.

The deal, which closes in six months, is good for Yahoo because the company gets a "wad of cash" but still has exposure to fast-growing China, said Napoleon Biggs, head of digital integration at public relations firm Fleishman-Hillard Asia Pacific.

"China for them was like a sore tooth," said Biggs, who has worked in the Chinese Internet and media industry since 1997.

Yahoo's interim CEO Ross Levinsohn said the stake sale provides clarity for Yahoo shareholders.

Levinsohn stepped into the role earlier this month after Yahoo cast aside CEO Scott Thompson because his official biography included a college degree that he never received.

Yahoo shares closed at $15.42 on Friday, the last trading day before the deal was released. The price jumped to $16.01 in Monday's pre-market session, up 3.8 percent, data from the US financial website CNNMoney showed.

The website was offering 12-month price forecasts for Yahoo at a median target of $17, which is more than 10 percent above last Friday's close.

Under the changes, Yahoo will grant Alibaba a license to continue using the Yahoo China brand for up to four years. Alibaba will pay Yahoo $550 million and make royalty payments over that period. Yahoo will no longer be restricted from making other investments in China.

Alibaba is in the process of taking Hong Kong-listed unit Alibaba.com private. Shareholders will vote on Friday on whether the company should buy back the 27 percent it doesn't already own.

AP contributed to this story.

gaoyuan@chinadaily.com.cn

Alibaba to repurchase 20% holding from Yahoo for $7.1b

Previous Page 1 2 3 4 5 Next Page

 
 
...
...
...
主站蜘蛛池模板: 午夜日韩福利 | 欧美日韩不卡视频 | 国产精品亚洲一区二区三区 | 久久精品无码一区二区三区 | 亚洲一区日韩 | 成人在线免费观看视频 | 天天操天天干天天操天天干 | 久久手机看片 | 大伊香蕉 | 无遮挡在线观看 | 日女人网站 | 欧美整片第一页 | 成人av图片 | 四虎影院在线免费观看 | 99热这里只有精品99 | 97视频网站| 日韩福利社 | 噼里啪啦国语完整在线观看高清 | 国产免费一区二区三区在线观看 | 亚洲精品在线观看网站 | 婷婷深爱网 | 欧美影视一区 | 97偷拍视频| 国产一区二区色 | 久久精品视频免费观看 | 成人中文字幕在线 | 五月天精品在线 | 日韩视频网址 | 午夜视频色 | 国产伦精品一区二区三区在线 | 国产99在线| www欧美色 | 2级毛片 | 激情黄色片 | 日本欧美在线视频 | 久久精品在线免费视频 | 偷拍亚洲精品 | 欧美精品久久久久久久久老牛影院 | 午夜精品剧场 | 欧美午夜一区二区 | 国内外成人在线视频 |