Jack Ma optimistic to resolve dispute over Alipay's ownership

09:06, June 09, 2011      

Email | Print | Subscribe | Comments | Forum 


A woman walks past the reception of Alipay at its headquarters in Hangzhou, capital of east China's Zhejiang Province, June 8, 2011. Jack Ma, chairman and chief executive of Alibaba Group said he is optimistic to reach an agreement with Yahoo Inc. in resolving a dispute over the ownership of the online payment service Alipay. Earlier last month, Yahoo, the largest stakeholder of Alibaba said the ownership of Alipay, Alibaba's online payment platform, had been shifted to a Chinese firm owned mostly by Alibaba chairman Jack Ma without the knowledge or approval of Alibaba's board of directors or shareholders, which also include Japan's Softbank Corp. Jack Ma of Alibaba said Yahoo and Softbank were informed of the transfer of ownership and it was done to comply with Chinese licensing regulations and deemed necessary to ensure it was licensed in China. Alipay, the Chinese e-commerce giant's key online payment service was among the first group to be granted the Payment Transaction License from the People's Bank of China, China's central bank, to conduct online payments on May 26, 2011. On the same week Yahoo CEO Carol Bartz reassured stock market analysts that Yahoo would be "appropriately compensated" for the loss of Alipay from its investment portfolio. Currently Yahoo owns a 43% stake in Alibaba while Japanese Softbank holds a 29.3%. (Xinhua/Huang Zongzhi)


【1】 【2】 【3】 【4】 【5】 【6】 【7】 【8】 【9】 【10】
【11】 【12】 【13】 【14】 【15】 【16】 【17】 【18】 【19】 【20】


 
 
     
 
Wen Jiabao attends trilateral leaders' meeting of China,Japan and ROK
 
The Third China-U.S.Strategic and Economic Dialogue
 
     
 
 
 
  Weekly review  
 
May 20   World Economic Forum China office marks fifth anniversary
 
May 18   China, Pakistan joined in bonds of brotherhood
May 20   'Central axis' of Beijing applies for world cultural heritage
May 20   In pictures: Int'l 'Financial Security' symposium opens in Beijing
May 21   The week in pictures
May 16   Beijing aims for massive influx of overseas talent in 2011
May 16   Singapore election coverage shows Western arrogance
May 16   Chinese naval helicopter conducts target practice in Gulf of Aden
May 17   Strategies for harmony between militaries of China, US
May 17   Pakistani Prime Minister hails China as true friend
 
     
 
 

(Editor:刘晓宁)

  • Do you have anything to say?
  • Elephant rampage in southern India
  • LOCOG unveils prototype of London 2012 Olympic Torch
  • 10 killed in traffic accident in N Turkey
  • Heavy shooting, fireworks in Yemen to celebrate Saleh's successful surgery: state TV
  • 23 killed in road mishap in southern India
  • "Tokyo Sky Tree" -- the world's highest self-standing tower
http://english.people.com.cn/90001/90778/90860/7404575.pdf