• 18-SEP-2012

  • Hangzhou, China

  • SOURCE: Alibaba.com

Alibaba Closes US$7.6 Billion Share Repurchase and Restructuring of Yahoo! Relationship

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Alibaba Group Holding Limited, China's largest e-commerce company, announced it has completed the initial repurchase of shares from Yahoo! and restructured its relationship with the Silicon Valley company in transactions valued at approximately US$7.6 billion. The closing follows the May 20, 2012 announcement by Alibaba Group and Yahoo! of a comprehensive plan for Yahoo! to reduce its stake in Alibaba Group in stages over time and a series of agreements to implement the restructuring of the ongoing relationship between the two companies.