الرئيسية
hinese online commerce giant Alibaba plans to borrow $3
billion to buy back the stake Yahoo! owns in the company, a report said
Thursday, as the struggling US Internet firm overhauls its Asia
holdings.Alibaba, whose Hong Kong shares were suspended from
trading on Thursday, is raising money from six banks and the loan is
expected to be finalised this month, the Wall Street Journal said,
citing unidentified sources.
Alibaba gave no reason for the trading halt and its spokesman John Spelich declined to comment when contacted by AFP.
The
report comes after Yahoo! on Tuesday announced a boardroom shakeup to
breathe fresh life into the Internet firm that has been struggling to
re-invent itself and appease disappointed investors.
Chairman Roy
Bostock said he would step down from the board along with three other
directors -- just weeks after Jerry Yang, who co-founded Yahoo! and had
an ill-fated stint as chief executive, resigned from all of his
positions.
billion to buy back the stake Yahoo! owns in the company, a report said
Thursday, as the struggling US Internet firm overhauls its Asia
holdings.Alibaba, whose Hong Kong shares were suspended from
trading on Thursday, is raising money from six banks and the loan is
expected to be finalised this month, the Wall Street Journal said,
citing unidentified sources.
Alibaba gave no reason for the trading halt and its spokesman John Spelich declined to comment when contacted by AFP.
The
report comes after Yahoo! on Tuesday announced a boardroom shakeup to
breathe fresh life into the Internet firm that has been struggling to
re-invent itself and appease disappointed investors.
Chairman Roy
Bostock said he would step down from the board along with three other
directors -- just weeks after Jerry Yang, who co-founded Yahoo! and had
an ill-fated stint as chief executive, resigned from all of his
positions.