Monday, December 4, 2006

Yahoo China could spin off from Alibaba within 12 months - report

Yahoo China, the Chinese subsidiary of, could spin off from, the Zhejiang-based internet company, the China Internet Weekly reported. The article in the weekly journal cited unnamed sources close to Yang Zhiyuan, the Yahoo CEO, as saying the spin-off could take place within 12 months.
Yahoo paid USD 1bn to take 40% stake in last year and merged with Yahoo China. The article added that the Alibaba's merger with Yahoo China could be strategically wrong. Xie Yun, the previous Yahoo China resigned 40 days after he took office on 27 November, which had been taken as an indication that the US-based Yahoo senior executives had lost confidence in Ma Yun, the Alibaba-Yahoo China CEO and were not satisfied with the development strategies in Yahoo China and


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