Yahoo, one of the world's biggest Internet companies, is in negotiations to acquire a stake in Ali-baba.com, China's largest e-commerce company, according to people with knowledge of the talks.
The companies have held discussions for months and it is still unclear whether they will reach an agreement soon, these people say. The deal could be one of the largest foreign investments in a Chinese technology company, and would pose a strong challenge for the online auction giant eBay, which has been stepping up its presence in China.
Alibaba's primary business is in matching the needs of Chinese and foreign companies, for instance, in providing T-shirts or ball bearings made domestically to retailers or manufacturers overseas. But Alibaba also has a consumer-to-consumer auction site that has quickly become a contender to eBay's entrant in that fast-growing market in China. An alliance of Alibaba and Yahoo would sharply intensify that competition.
Officials at both Yahoo and Alibaba.com declined to comment on Monday on reports of the negotiations. But people who have been briefed on the discussions say Alibaba.com has been eager to raise more cash and find a partner before offering shares to the public; its auction site would also help create interest. Meanwhile, Yahoo has been seeking to make a larger push into China.
Forbes magazine, which was first to report the discussions, said on its Web site late on Sunday that Yahoo could spend up to US$1 billion to acquire a 35 percent stake in Alibaba.com.
Some of the world's largest technology companies are racing to extend their reach in China to profit from the explosive growth in Internet use.
In the last few years, most of the large US Internet companies have come here to cut deals: Amazon.com acquired China's largest online bookseller, Joyo.com, for US$75 million; eBay bought the Chinese auction site Eachnet for US$180 million; and Yahoo purchased the Chinese search engine 3721.
NO HUMAN ERROR: After the incident, the Coast Guard Administration said it would obtain uncrewed aerial vehicles and vessels to boost its detection capacity Authorities would improve border control to prevent unlawful entry into Taiwan’s waters and safeguard national security, the Mainland Affairs Council (MAC) said yesterday after a Chinese man reached the nation’s coast on an inflatable boat, saying he “defected to freedom.” The man was found on a rubber boat when he was about to set foot on Taiwan at the estuary of Houkeng River (後坑溪) near Taiping Borough (太平) in New Taipei City’s Linkou District (林口), authorities said. The Coast Guard Administration’s (CGA) northern branch said it received a report at 6:30am yesterday morning from the New Taipei City Fire Department about a
IN BEIJING’S FAVOR: A China Coast Guard spokesperson said that the Chinese maritime police would continue to carry out law enforcement activities in waters it claims The Philippines withdrew its coast guard vessel from a South China Sea shoal that has recently been at the center of tensions with Beijing. BRP Teresa Magbanua “was compelled to return to port” from Sabina Shoal (Xianbin Shoal, 仙濱暗沙) due to bad weather, depleted supplies and the need to evacuate personnel requiring medical care, the Philippine Coast Guard (PCG) spokesman Jay Tarriela said yesterday in a post on X. The Philippine vessel “will be in tiptop shape to resume her mission” after it has been resupplied and repaired, Philippine Executive Secretary Lucas Bersamin, who heads the nation’s maritime council, said
CHINA POLICY: At the seventh US-EU Dialogue on China, the two sides issued strong support for Taiwan and condemned China’s actions in the South China Sea The US and EU issued a joint statement on Wednesday supporting Taiwan’s international participation, notably omitting the “one China” policy in a departure from previous similar statements, following high-level talks on China and the Indo-Pacific region. The statement also urged China to show restraint in the Taiwan Strait. US Deputy Secretary of State Kurt Campbell and European External Action Service Secretary-General Stefano Sannino cochaired the seventh US-EU Dialogue on China and the sixth US-EU Indo-Pacific Consultations from Monday to Tuesday. Since the Indo-Pacific consultations were launched in 2021, references to the “one China” policy have appeared in every statement apart from the
More than 500 people on Saturday marched in New York in support of Taiwan’s entry to the UN, significantly more people than previous years. The march, coinciding with the ongoing 79th session of the UN General Assembly, comes close on the heels of growing international discourse regarding the meaning of UN Resolution 2758. Resolution 2758, adopted by the UN General Assembly in 1971, recognizes the People’s Republic of China (PRC) as the “only lawful representative of China.” It resulted in the Republic of China (ROC) losing its seat at the UN to the PRC. Taiwan has since been excluded from
RSS