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Alibaba declares interest in purchasing Yahoo

(People's Daily)

14:25, October 08, 2011

Edited and Translated by Ma Xi, People's Daily Online

Alibaba’s spokesman John Spelich said on Oct.7 that the chairman of Alibaba Group, Ma Yun, announced his intention of acquiring Yahoo.

“Alibaba is very important to Yahoo, and Yahoo means the same to Alibaba,” said Ma during his speech at Stanford University on Friday.

Ma said he was very interested in buying out Yahoo Inc., and Alibaba is in the process of negotiating with Yahoo.

After Carol Bartz was fired as Yahoo CEO, some U.S. newspapers had speculated Ma Yun as one of the best candidates to be Yahoo’s new CEO.

Senior industry analyst Sun Jie said there are some obstacles for Alibaba to acquire Yahoo. The U.S. regulators will strictly probe and scrutinize qualifications of Alibaba, which will involve the independence of Alibaba and privacies of Yahoo users. In addition, the alteration dispute involving Alipay’s equities is likely to lead regulators and the U.S. capital market to look closely into Ma’s credit, Sun said.

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