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Rumor: Temasek to Fund Alibaba Share Buyback from Yahoo

Sina Tech, 10/10/11

Chinese e-commerce conglomerate Alibaba Group has reportedly entered discussion with Temasek Holdings regarding financing to repurchase Yahoo's 40% stake in Alibaba. According to an industry source, Temasek will receive additional Alibaba Group shares in exchange for funding and has no interest in owning Yahoo shares. Temasek spokesman Stephen Forshaw said that the company does not comment on market speculation, while Alibaba and Yahoo could not be reached for comment.

Rumors last week claimed that Alibaba Group, Silver Lake, and Digital Sky Technologies (DST) were in talks to form a group to bid for Yahoo.

Alibaba Group chairman Jack Ma said on October 1 that Alibaba was "very interested" in Yahoo, and was already in talks with the US internet company as well as other potential buyers.

Temasek, Silver Lake, and DST acquired USD 1.6 bln in Alibaba Group shares on September 22 in a transaction that, according to two industry sources, valued Alibaba Group at USD 32 bln.

Editor's Note: For more information on this topic, please see "Private Investors Acquire 5% Stake in Alibaba Group for USD 1.6 Bln," MD 9/23/11 issue.

Keywords: Jack Ma e-commerce Internet Silver Lake Temasek Yahoo Alibaba Group B2B 1688.HK investment M&A Digital Sky Technology financing


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