CIC Said In Advanced Talks To Take Up To $2 Billion Stake In Alibaba-Reuters
05/24/2012| 07:49am US/Eastern
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China sovereign wealth fund China Investment Corp. is in advanced talks to buy up to a $2 billion stake in Alibaba Group Holding Ltd. (1688.HK), Reuters reported Thursday on its website, citing people familiar with the matter.
Should a deal emerge, it would help Alibaba complete the necessary funding to buy back up to half of the 40% stake in its self held by Yahoo Inc. (>> Yahoo! Inc.) for $7.1 billion, Reuters reported, citing sources.
CIC and Alibaba declined comment to Reuters.
Full story at: www.reuters.com/article/2012/05/24/us-alibaba-yahoo-cic-idUSBRE84N0JZ20120524
-Dow Jones Newswires; 212-416-2900
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