Alibaba, Softbank to reach out to Yahoo CEO after talks over stake sales break down
News On Japan via Washington Post -- Feb 17
Alibaba Group and Japan's Softbank will go directly to Yahoo's chief executive, bypassing negotiators from the U.S. Internet company, after talks over the sale of Yahoo's Asian holdings broke down, a person familiar with the negotiations said Wednesday.
The struggling Internet company has been in discussions to sell its stakes in Chinese e-commerce company Alibaba Group Holding Ltd. and Yahoo Japan back to Alibaba and Yahoo Japan shareholder Softbank Corp.
But the person, who declined to be identified because the talks are confidential, said that Softbank and Alibaba will go directly to Yahoo Inc. CEO Scott Thompson for more clarity after talks broke down over the terms. The person said Yahoo's negotiating team seemed to have different ideas from the company's leaders.
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