UPDATE: Yahoo! (YHOO) Very Close to Deal to Sell Alibaba Stake - Report
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Yahoo! (Nasdaq: YHOO) is indicated higher early Friday following reports that the company is the final stages of striking a deal to sell a large stake in Alibaba Group back to the company, AllThingsD reported.
The deal is complex and includes multi-billion-dollar share buyback for Yahoo! and an eventual IPO for Alibaba.
UPDATE: Bloomberg just reported Yahoo! could sell a 20 percent stake in Alibaba for about $7 billion.
A deal could be announced as early as Monday.
Yahoo! last traded at $15.30, up 3 percent from Thursday's close.
Link to AllThingsD story.
The deal is complex and includes multi-billion-dollar share buyback for Yahoo! and an eventual IPO for Alibaba.
UPDATE: Bloomberg just reported Yahoo! could sell a 20 percent stake in Alibaba for about $7 billion.
A deal could be announced as early as Monday.
Yahoo! last traded at $15.30, up 3 percent from Thursday's close.
Link to AllThingsD story.
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