Wednesday, February 15, 2012

Yahoo-Alibaba talks breaking down

Yahoo-Alibaba talks breaking down

Remember our story about Alibaba looking into the possible purchase of a major stake in Yahoo. Well, it seems that the talks between both Internet giants have hit a brick wall – which means their plans for a $17 billion tax-free asset swap might eventually be derailed and end up as nothing but hot air. This particular impasse came about on the same day where activist investor Daniel Loeb from hedge fund ThirdPoint intended to install his own company of directors on Yahoo's board. This just goes to show the kind of turmoil that is currently engulfing the Web giant.

Ubergizmo, Yahoo-Alibaba talks breaking down

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