Yahoo takes Alibaba stake sale by a billion
Yahoo is following the sale of half of its shares in the Chinese Internet company Alibaba at $ 4.3 billion richer (3.3 billion euros). All remaining after deduction of taxes and fees on the purchase price. The U.S. company announced on Tuesday the completion of the deal, which was announced since May.
Yahoo boss Marissa Mayer said the transaction had gone off without a hitch. $ 3 billion are now additionally to the shareholders own the $ 643 million that Yahoo has been paid since May. That is less than originally expected, but indicated more than temporarily by Mayer.
The share of 40 percent in Alibaba was considered the most valuable items in the Yahoo-books. After long negotiations, the Chinese bought back about half of the shares at the price of $ 6.3 billion in cash and $ 800 million in preferred stock. Added $ 550 million to come through a licensing agreement.
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