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China : China fund may help Alibaba in Yahoo! bid
Publish Date : 26-May-2012
China Investment Corporation is in advanced talks to add up to US$2 billion to the Alibaba Internet Group\'s efforts to buy back a stake from struggling Internet pioneer Yahoo!, the New York Times reported.
The newspaper cited an unnamed source on Thursday as saying that Alibaba is in discussions with several potential partners, including Singapore\'s Temasek, Russia\'s DST Global and the US Blackstone Group, on buying back the shares.
Alibaba hopes to raise a total of around US$4.6 billion.
After more than a year of negotiations, Yahoo! agreed to sell its stake in Alibaba, China\'s top e-commerce player, for at least US$7.1 billion, the companies announced Sunday.
