Alibaba unlikely to be interested in Yahoo's core business: WSJ

Reuters News
|
Posted: Dec 03, 2015 6:49 AM

(Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd <BABA.N> is unlikely to be interested in buying Yahoo Inc's <YHOO.O> core business, the Wall Street Journal reported.

Yahoo's board, in a three-day meeting that started on Wednesday, is weighing a sale of the company's Internet business, Reuters reported on Tuesday, citing a person familiar with the matter.

Board members are also expected to discuss the details of the planned spinoff of Yahoo's 15 percent stake in Alibaba, worth more than $30 billion.

Alibaba will be interested in repurchasing its shares from Yahoo only at a steep discount, the WSJ said on Thursday, citing a person familiar with the matter. (http://on.wsj.com/1jAjb0T)

Alibaba and Yahoo were not immediately available for comment.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Kirti Pandey)