Yahoo, Alibaba in patch up talks
17 May 2011
Yahoo set off a controversy last week through a regulatory filing that the Alibaba Group, the Chinese internet giant it partly owns, had transferred the assets of its online payment unit, Alipay, to a Chinese company controlled by Alibaba's chief executive, Jack Ma.
Yahoo holds a 39-per cent stake in the $567-million Chinese e-commerce firm Alibaba.
Last week Alibaba transferred ownership of one its most important businesses, payments website Alipay, to another private company controlled by Jack Ma chief executive of Alibaba.
Yahoo and Alibaba engaged in a public spat on whether the transfer had been kept secret from Yahoo and whether Alibaba had received proper compensation for the transfer.
However, on Sunday Yahoo and Alibaba said they were working to quickly resolve the dispute.
According to Yahoo it was engaged in "productive negotiations" to resolve the situation but analysts wonder whether a resolution would mean a patch up, or break up.
.webp)
