updated 05:25 am EDT, Sat October 1, 2011
Jack Ma declares interest in buying Yahoo outright
Alibaba chief Jack Ma has told an audience at Stanford University that his company is interested in buying ‘all’ of Yahoo. Currently, Yahoo retains a 40 percent stake in Alibaba, an online commerce company, that is valued in the billions of dollars. However, All Things D reports that Ma has clearly signaled his intent for Alibaba to be a principal player in a takeover bid for Yahoo, and not part of a consortium.
“We are very interested in Yahoo. Our Alibaba group is important to Yahoo and Yahoo is important to us…All the serious buyers interested in Yahoo have talked to us,” stated Ma.
When asked how he would put together a bid, Ma reiterated that he wanted the “whole” company, but said that it was a complicated process and involved numerous interested parties.
Yahoo is currently undertaking a review of its operations in the wake of the sacking of Carol Bartz as CEO. It has indicated that one of the options on the table is to sell the companygo. Alibaba is the first company to declare publicly that it is interested in acquiring Yahoo outright.