Yahoo! (YHOO) and Alibaba Negotiations Nearly Finished -Reuters
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Reuters reporting Yahoo! (Nasdaq: YHOO) has resolved its dispute with Alibaba Group over the Chinese company’s transfer of its online payment system Alipay to Chief Executive Jack Ma.
Sources suggest the deal is still waiting for approval of Softbank Corp founder Masayoshi Son, an Alibaba board member. The exec has been very hesitant and reluctant at the negotiating table, Reuters said.
Yahoo! CFO Tim Morse said the company was still in negotiations with Alibaba and the two just laid out a framework for a deal involving compensation and value of Alipay.
After running up just minutes before the closing bell (the stock closed up 3.3 percent), Yahoo! shares are now up 2.6 percent to $16.43 in after-hours trade Tuesday.
Sources suggest the deal is still waiting for approval of Softbank Corp founder Masayoshi Son, an Alibaba board member. The exec has been very hesitant and reluctant at the negotiating table, Reuters said.
Yahoo! CFO Tim Morse said the company was still in negotiations with Alibaba and the two just laid out a framework for a deal involving compensation and value of Alipay.
After running up just minutes before the closing bell (the stock closed up 3.3 percent), Yahoo! shares are now up 2.6 percent to $16.43 in after-hours trade Tuesday.
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