Feeds

Yahoo! boo-hoo over Alibaba boo-boo

We (finally) know what you did last summer

Bridging the IT gap between rising business demands and ageing tools

Yahoo! has told its long-suffering investors that it is still in discussions with Alibaba over the fate of its payment business Alipay.

Its stake in Alibaba - a leading Chinese ecommerce business - is seen as one of the better reasons to own Yahoo! shares. But relations between the two seem to be under strain.

Alibaba span off its payment division Alipay in August last year, but it was only last week that Yahoo! appeared to notice. It said the transaction had occurred without "the knowledge or approval of the Alibaba Group board of directors or shareholders".

Alibaba disputes this, insisting the move was first discussed at a board meeting in 2009, the BBC reports.

Yahoo! insists the battle is not over. It said:

Yahoo! continues to work closely with Alibaba and Softbank to protect economic value for all interested parties.

We believe ongoing negotiations among all of the parties provide the best opportunity to achieve an outcome in the best interest of all stakeholders.

Alibaba is a sort of eBay for small businesses looking to get stuff made in China. It also runs domestic Chinese and Japanese services. Its $26bn IPO in 2007 was the largest tech float since Google's. ®

Build a business case: developing custom apps

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.