{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='CHINA SELLS HALF ITS STAKE IN CHINESE E-COMMERCE GROUP ALIBABA' data-url='/boclips/videos/5c54c146d8eafeecae150ef0' data-video-url='/boclips/videos/5c54c146d8eafeecae150ef0' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nCHINA SELLS HALF ITS STAKE IN CHINESE E-COMMERCE GROUP ALIBABA\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca href=\"/search?publisher_ids%5B%5D=\"\u003e/search?publisher_ids%5B%5D=\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eStruggling Internet company Yahoo Inc. has secured a lifeline after agreeing to sell half of its prized stake in Chinese e-commerce group Alibaba for about 7.1 (b) billion US dollars, with most of the cash going to shareholders.The deal,...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eStruggling Internet company Yahoo Inc. has secured a lifeline after agreeing to sell half of its prized stake in Chinese e-commerce group Alibaba for about 7.1 (b) billion US dollars, with most of the cash going to shareholders.\u003cbr/\u003eThe deal, announced in the US on Sunday, will see Alibaba buy back half of its 40 percent stake from Yahoo for 6.3 (b) billion US dollars cash and up to 800 (m) million dollars of Alibaba preferred shares.\u003cbr/\u003eThe announcement caps at least a year of rocky on-and-off talks as Yahoo tried to sell the stake as part of efforts to turnaround its business. \u003cbr/\u003eMoney from the sale will give Yahoo the financial firepower to return cash to disgruntled shareholders - many of whom are still upset after it squandered an opportunity to sell itself to Microsoft in May 2008 for 33 US dollars per share, or 47.5 (b) billion US dollars. \u003cbr/\u003eYahoo said in a joint statement with Alibaba that it plans to return \"substantially all\" of the after-tax cash proceeds to shareholders. \u003cbr/\u003eIt said its share buyback programme had been increased by 5 (b) billion US dollars, though a final decision on how to return the cash had not been made.\u003cbr/\u003eThe deal, which closes in six months, is good for Yahoo because the company gets a large amount of cash but still has exposure to fast-growing China, said Napoleon Biggs, head of digital integration at public relations firm Fleishman-Hillard Asia Pacific.\u003cbr/\u003e\"China for them was like a sore tooth and they've been able to pull that tooth out or extract it slowly. The difference this time is it has a gold lining upon it,\" said Biggs, who has worked in the Chinese internet and media industry since 1997. \u003cbr/\u003eAlibaba and Yahoo also have an agreement for Yahoo to sell the remainder of its Alibaba stake in stages later on. \u003cbr/\u003eYahoo bought the stake in 2005 for 1 (b) billion US dollars and the deal suggests it's now worth 14.2 (b) billion US dollars.\u003cbr/\u003eThe statement also indicates Alibaba may hold an initial public offering (IPO) in the future.\u003cbr/\u003eUnder the terms of the deal, if Alibaba Group goes public, it would have to buy back another 10 percent stake from Yahoo or let Yahoo sell those shares in the IPO.\u003cbr/\u003eThat condition expires in December 2015, according to a blog post on Alizila, Alibaba's in-house news site. \u003cbr/\u003e\"Alibaba already has a global presence, so they have the framework to be able to build on,\" Biggs said.\u003cbr/\u003e\"So if they release Yahoo from their shareholdings, it allows them to do their IPO, which I think is an important thing. I know they're listed here, but they want to move to the US.\"\u003cbr/\u003eAlibaba's Chairman and CEO Jack Ma has said the deal establishes a balanced ownership structure.\u003cbr/\u003eThe relationship between Yahoo and Alibaba began amicably but deteriorated as the Yahoo went through successive CEOs trying to engineer a deal. \u003cbr/\u003eThey also feuded last year after Alibaba spun off its payment service, Alipay, but failed to disclose it right away, rattling Yahoo investors. \u003cbr/\u003eYahoo said at the time the change was necessary because Beijing would only license a payment service wholly owned by Chinese citizens.\u003cbr/\u003eAlibaba, which is based in Hangzhou, started out as a business-to-business website linking factories in China to buyers around the world. \u003cbr/\u003eIt also operates Taobao.com, the country's version of eBay, and TMall, which brands can use to sell directly to consumers. \u003cbr/\u003eFILE: Beijing - 9 November 2005\u003cbr/\u003e1. Zoom out from hands on plunger to confetti and smoke at relaunch of Yahoo Chinese site\u003cbr/\u003e2. Various of relaunched Yahoo China website shown at relaunch ceremony\u003cbr/\u003eHong Kong - 21 May 2012\u003cbr/\u003e3. Wide of Alibaba English website\u003cbr/\u003e4. Close of Alibaba English logo\u003cbr/\u003e5. SOUNDBITE (English) Napoleon Biggs, Head of Digital Integration at Fleishman-Hillard Asia Pacific:\u003cbr/\u003e\"I think for Yahoo, it releases them, basically. China for them was like a sore tooth. And they've been able to pull that tooth out, or extract it slowly. The difference is that this time it has a gold lining on it. And I think if you look at Jerry Yang's initial investment (referring to Yahoo's co-founder), one billion, which at the time, I think 2004, 2005, was considered like, huge, why are you putting so much money into China? They can say now, it was a wise move, he's times seven, just initially, off today's valuation.\"\u003cbr/\u003e6. Wide of Biggs talking\u003cbr/\u003e7. SOUNDBITE (English) Napoleon Biggs, Head of Digital Integration at Fleishman-Hillard Asia Pacific:\u003cbr/\u003e\"From Alibaba's perspective, they are already a global company, so what I find interesting about Alibaba is that other Chinese companies are trying to break out of China - Sina, Sohu, Baidu - but Alibaba already has a global presence, so they have the framework to be able to build on. So if they release Yahoo from their shareholdings, it allows them to do their IPO (initial public offering), which I think is an important thing, I know they're listed here, but they want to move to the US, list there.\"\u003cbr/\u003eFILE: Beijing - 9 November 2005\u003cbr/\u003e8. Wide of Alibaba CEO Jack Ma addressing audience\u003cbr/\u003e9. SOUNDBITE (Mandarin) Jack Ma, CEO of Alibaba\u003cbr/\u003e\"Ever since Jerry Yang at Yahoo brought us into the Yahoo brand, Yahoo technology, and all of the abilities of Yahoo here in China, it has been one of the biggest brands in China. I have a responsibility and a duty to make it the biggest brand in China\".\u003cbr/\u003eHong Kong - 21 May 2012\u003cbr/\u003e10. Wide of Alibaba's Chinese website\u003cbr/\u003e11. 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