Alibaba CEO Steps Down, Considers Himself Too Old to Run Internet Company
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Yahoo! (YHOO) Sells Half of its Alibaba Stake for $7.1 Billion, Boosts Buyback Plan By $5 Billion
May 20, 2012 10:44 PM EDTSunday evening, Yahoo! (Nasdaq: YHOO) announced a multi-step plan to monetize its Alibaba stake that includes selling half now for $7.1 billion and the selling the remaining part when Alibaba goes public. The company also significantly raised is stock repurchase plan, returning most of the immediate proceeds to shareholders.
Under the first... More
