Tuesday, August 09, 2005

Yahoo To Acquire Stake In Chinese Commerce Portal

From NY Times Yahoo said to be in talks with Alibaba.com

Yahoo, one of the world's biggest Internet companies, is in negotiations to acquire a stake in Alibaba.com, China's largest e-commerce company, several people involved in China's financial industry, said Monday

The deal could be one of the largest foreign investments in a Chinese technology company, and would pose a strong challenge for the online auction giant eBay, which has been stepping up its presence in China

Most powerful sentence in the whole article.

Mr. Wei, at J. P. Morgan, however, said that if Yahoo agrees to acquire a stake in Alibaba.com, it could quickly become the most diversified Internet company in China

No comments: