Yahoo will sell back up to half its 40% stake in Chinese company
(NEWSER) - It's a resolution for what All Things Digital's Kara Swisher calls "perhaps the longest running global cat fight in Internet history": In a $7.1 billion deal, Yahoo is selling back up to half its 40% stake in China's Alibaba , the Wall Street Journal reports. For the US internet giant, that means $6.3 billion cash and $800 million in preferred Alibaba stock. Most of the $4 billion Yahoo ultimately takes home after taxes will go to shareholders, many of whom are still smarting over Yahoo's 2008 rejection of Microsoft's bid to acquire the company for $33 per share, reports the AP . Yahoo's sagging stock traded at $15.42 on Friday. More»
