Alibaba Halts Trading Following Yahoo Shakeup, Prepares "Price Sensitive" Statement
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On Wednesday it was announced that Alibaba Group was finalizing terms on a $3 billion dollar loan, which some analysts believe will be used to buy back the company's shares from Yahoo Inc. The U.S.-based web giant acquired a 40 percent stake in Alibaba in 2005 as part of a strategic partnership. In November, a group of investors acquired a 5 percent stake in Alibaba for $1.6 billion, which could place the value of Yahoo's shares at close to $13 billion.
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Kyle A. Richardson
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Kyle A. Richardson is the editorial director of Promo Marketing. He joined the company in 2006 brings more than a decade of publishing, marketing and media experience to the magazine. If you see him, buy him a drink.
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