Retail in Asia

In Trends

Alibaba will buyback half of Yahoo stake

US internet company Yahoo said it has reached a deal to sell part of its stake in the Chinese e-commerce firm Alibaba Group.

Alibaba will buy back half the 40 percent stake owned by Yahoo, following years of negotiations.

The deal will raise about USD7.1 billion for Yahoo, which has been losing ground to rival Google and Facebook in online advertising.

(Source: BBC News )