Yahoo and Alibaba have finally agreed to a deal that will see the Internet pioneer sell back half its stake in China e-commerce giant for $7 billion, the companies announced this evening.
The taxable deal, which was first reported by All Things D, includes a complex share buyback plan by Yahoo and an Alibaba IPO.
"Today's agreement provides clarity for our shareholders on a substantial component of Yahoo!'s value and reaffirms the significance of our relationship with Alibaba," said Ross Levinsohn, interim CEO of Yahoo, in a statement. "We look forward to continued collaboration with … Read more