Deals
Alibaba Resolves Dispute With Yahoo, Softbank Over Alipay Unit
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Alibaba Group Holding Ltd. reached an agreement yesterday with Yahoo! Inc. and Softbank Corp., its largest shareholders, ending a four-month spat over how to compensate investors after an ownership change in China’s most popular online-payment service.
Alibaba, which transferred the Alipay unit to a company controlled by Chairman Jack Ma last year, will get as much as $6 billion if Alipay sells shares to the public, according to a statement yesterday. Before any sale, Alibaba will receive 49.9 percent of Alipay’s earnings.