Company based in Califonia, Yahoo and Alibaba agreed to sell half its shares. Ross Levinsohn, CEO while Yahoo said today that the agreement will provide clarity for shareholders about the value of Yahoo and reiterated the importance of our relationship with Alibaba. "
Yahoo is rumored to be selling 20 percent stake in Alibaba. Yahoo shares currently total in Alibaba for U.S. $ 35 billion. The results of the benefits achieved from the sale of Yahoo's stock will be used to buy back its own shares.
Levinsohn said in a statement said, "We look forward to working further with Alibaba teams for various business initiatives, so that we can work together to find opportunities for growth and future profits of Alibaba."
Yahoo now it is in the midst of difficult times, they were considering selling all the assets of Alibaba to its original owners. The process was not so done because of Alibaba now has changed hands.
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