Deals
Alibaba Said to Near Buying $7 Billion Stake From Yahoo
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Alibaba Group Holding Ltd. is near an agreement to buy back a 20 percent stake in itself from Yahoo! Inc. for about $7 billion and may announce a deal as soon as today, said a person with knowledge of the matter.
The purchase may pave the way for Alibaba, China’s largest e-commerce provider, to pursue an initial public offering in the next 18 months, said the person, who asked not to be identified because the matter is private. Alibaba, helped by shareholders Temasek Holdings Pte., Digital Sky Technologies, Silver Lake, plans to finance the deal with cash and debt, the person said.