Alibaba to clarify deal talk as Yahoo eyes sale
Alibaba.com Ltd. shares have been suspended from trading in Hong Kong as the Chinese e-commerce company prepares to release information about a possible deal involving its parent company and Yahoo Inc.
The company said in a brief statement Thursday that it's preparing to clarify speculation about a transaction involving its controlling shareholder Alibaba Group Holdings Ltd.
Yahoo said on Tuesday it's in "active discussions" with partners in Asia over the possibility of restructuring its holdings in Alibaba Group and Yahoo! Japan. The Internet search company owns about 40 percent of Alibaba Group.
Yahoo is trying to generate some cash that could be used for acquisitions or shareholder dividends by selling its stakes in the two companies.