Yahoo sells China’s shares

  • Business
  • Wednesday, 16 Sep 2009

HONG KONG/SAN FRANCISCO: Yahoo Inc is selling its 1.14% stake in Chinese Internet marketplace for about US$150mil, nearly two years after the company went public.

Yahoo still holds a 40% stake in the unlisted parent company, Alibaba Group, and reiterated in a statement on Monday that it believed the investment was an important, long-term way to participate in the China market. — Reuters

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