Alibaba’s Ma: Break up Yahoo

SAN FRANCISCO: Alibaba founder Jack Ma didn't shed new light on his negotiations with Yahoo and Softbank during an appearance at a conference on Wednesday, but he did offer some unexpected advice for Yahoo.

“Separate it ... into small pieces,” he replied bluntly when asked how he might manage the struggling US Web portal if he were in charge.

“Running a big company is not easy, then make it smaller,” Ma said on stage at the D9 conference, organised by the tech blog

Yahoo owns 43% of Chinese e-commerce giant Alibaba Group, which it acquired for US$1bil in 2005. The relationship between the two companies has grown strained since Carol Bartz took the CEO reins at Yahoo two years ago.

Ma's attempts to repurchase some of Yahoo's stake in his company have been rebuffed by Bartz.

The companies are currently in negotiations, along with Japan's Softbank, over how to compensate Yahoo for Alipay, an Alibaba subsidiary that was transferred to a separate entity controlled by Ma in order to meet Chinese regulations relating to foreign ownership.

Ma, a former English schoolteacher, said he was optimistic the matter would be resolved, but declined to provide a timeframe or any details about the matter.

Asked if he would ever consider buying Yahoo, he said he'd'love to, “if somebody could lend me the money.” - Reuters - Reuters

Latest business news from AP-Wire

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Business News

As Huawei CFO case enters final weeks, lawyer questions information in U.S. extradition request
China's imports are reshaping the global aluminium market
Oil price falls on US crude stock build, Delta variant spread
Robinhood shares surge 50%, as investors scoop up 'the meme of memes'
Wall Street closes mixed, S&P 500 ends off record high
Politics weighs on market outlook
South-East Asia’s factory powerhouses hit by vaccination woes, Delta
Higher sales boost F&N earnings
Export, import unit value indices record growth in June
Solarvest bags RM66mil contract for solar plant

Stories You'll Enjoy