Alibaba's Ma: "very interested" in buying Yahoo

Reuters News
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Posted: Sep 30, 2011 7:38 PM
Alibaba's Ma: "very interested" in buying Yahoo

PALO ALTO, California (Reuters) - Alibaba founder and CEO Jack Ma is keen on buying Yahoo Inc if the opportunity presents itself and has held discussions with other potential buyers about options.

Asked whether Alibaba might be keen on picking up the ailing Internet giant, Ma told the audience during a speech at Stanford University that he would be "very interested in Yahoo."

Alibaba has had a strained relationship with the U.S. Web company, which owns roughly 40 percent of the Chinese e-commerce giant. Ma's attempts to buy back some of Yahoo's stake in his company were rebuffed by former Yahoo Chief Executive Carol Bartz, who was fired earlier this month.

Yahoo has received inquiries from multiple parties about "potential options," but the struggling company is expected to take months to decide its future. It has retained Allen & Co to help it conduct a long-term "strategic review."

(Reporting by Alexei Oreskovic; editing by Andre Grenon)