Email

Yahoo, Alibaba talks called off: report

(Reuters) – Yahoo Inc and its Asian partners, China’s Alibaba and Japan’s Softbank Corp, have called off talks over a sale of the U.S. company’s Asian assets, tech blog AllThingsDigital cited sources as saying on Tuesday.

A man walks past a logo of Alibaba (China) Technology Co. Ltd at its headquarters on the outskirts of Hangzhou, Zhejiang province August 11, 2011. REUTERS/Steven Shi

A proposed deal — referred to as a cash-rich split-off — that would have seen the exchange of Yahoo’s slices of Alibaba and Yahoo Japan back to those companies in return for unspecified assets now appeared “dead,” the influential blog cited unidentified sources as saying.

Discussions had “completely halted” after negotiators from Yahoo — whose Chairman Roy Bostock is due to step down and whose Chief Executive Officer Scott Thompson is barely a month into the job — changed tack on what they wanted from the deal, AllThingsDigital cited one source as saying, without elaborating.

Shares in Yahoo were down 5.3 percent at $15.27 in afternoon trade. Yahoo did not immediately return calls seeking comment.

(Reporting By Edwin Chan; Editing by Gerald E. McCormick)

Related posts

Construction tips for building durable structures

Tech billionaire Elon Musk’s social media posts have had a ‘sudden boost’ since July, new research reveals

Moderators protect us from the worst of the internet. That comes at huge personal cost