Alibaba interested in buying US Internet firm Yahoo

Last month Yahoo CEO Carol Bartz was fired on the pretext that she was unable to increase the market share

PTI | October 4, 2011



Chinese Internet company Alibaba Group's head Jack Ma said he is "interested" in buying Yahoo, even as the US company is being approached by private equity firms and others for a potential deal, says a media report.

"Jack Ma, chief executive of Chinese Internet company Alibaba Group Holding Ltd, said he is "interested" in buying Yahoo Inc and (the Internet company) was (also) approached by private-equity firms and others about a potential deal," The 'Wall Street Journal' reported.

According to reports, private-equity firms such as Silver Lake Partners are considering bidding for Yahoo.

Ma's comments come nearly a month after the firing of Yahoo CEO Carol Bartz after she was unable to increase market share of the Internet firm.

Bartz's tenure also witnessed worsening of relations between Yahoo and Alibaba after the latter failed in its attempt to buy out its US partner's stake in the company.

Yahoo holds nearly 40 per cent stake in the Chinese Internet group. Alibaba Group's firm Alibaba.com had cash and bank balances of about USD 1.6 billion as of June 30.

According to The Wall Street Journal, Ma made the comments to an audience at a 'China 2.0' event at Stanford University on Friday. The paper added it was not clear if over the weekend whether Alibaba had taken formal steps towards purchase of Yahoo.

As per the the publication, Ma's spokesman declined to elaborate on the CEO's remarks, saying "they speak for themselves."

Last month, an internal memo sent by Yahoo chairman Roy Bostock and co-founders David Filo and Jerry Yang to their employees had sparked rumours about a possible sale of the Internet company.

In the memo, Yahoo said that a "strategic review" process was on to bring the company back to robust growth path and multiple parties have "expressed interest in a number of potential options."

The company executives did not specify the "potential options", neither did they name the "multiple parties" which had evinced their interest in the company, but the memo reignited rumours about a possible merger or acquisition of the company.

Bartz was sacked as Yahoo CEO in a bizarre development over a phone call from chairman Bostock.

Soon after Bartz's exit, speculations had begun that Yahoo might be open to possible merger and acquisition deals and there have also been unconfirmed reports that Internet firm AOL is probably interested in a merger deal.

Earlier, there were several failed attempts by technology giant Microsoft to acquire Yahoo.

Comments

 

Other News

The 7% growth problem: Why the next 7% will be harder

India has become accustomed to hearing the 7% growth number. It is now less a milestone than an expectation. Yet the paradox is becoming clearer: maintaining 7% growth may be considerably harder than achieving it once. India’s real GDP grew 7.7% in FY2025–26, following growth of 6.5% in FY202

The Constitution cannot be altered: Justice Abhay Oka

Justice Abhay Oka, who retired from the Supreme Court in May 2025, has said that the Constitution of India cannot be altered. Explaining the landmark Kesavananda Bharati judgment (1973) on the basic structure of the Constitution, he said, “This is one judgment that has saved democracy in India.&rdq

How the flora and fauna evolved in the Indian subcontinent

Mammals of India  By A.J.T. Johnsingh and P.O. Nameer HarperCollins India in association with Bombay Natural History Society  

India`s renewable race is moving beyond megawatts

When Shell bought Sprng Energy in 2022, India`s renewable energy market appeared to offer precisely what global energy majors were seeking: scale, growth and a place in one of the world`s largest energy transitions. Four years later, Shell is selling the same business to Aditya Birla Group for an enterpris

Nepal Floods: India keeps close watch on the situation

India`s central government has been keeping a close watch on the situation arising out of the flash flood in Nepal on Wednesday. Union home minister Amit Shah spoke with the chief ministers of Bihar and Uttar Pradesh, the two states that share the border with Nepal, regarding the disaster

UPI completes 10 years of digital payments revolution

The Unified Payments Interface (UPI), launched on August 25, 2016 by the National Payments Corporation of India (NPCI) under the regulatory oversight of the Reserve Bank of India (RBI), has completed 10 years of transforming digital payments in India. UPI has emerged as the backbone of India’s digi

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter