JACK MA GOOD LOOK TO NEGOTIATION WITH YAHOO ON ALIPAY

AsiaInfo Services
06-02-2011
Jack Ma Good Look to Negotiation with Yahoo on Alipay

BEIJING, Jun 02, 2011 (SinoCast Daily Business Beat via COMTEX) -- Chinese leading C2C company Alibaba Board Chairman Jack Ma said the negotiation with its shareholders Yahoo and Softbank on the transfer of Alipay.com is very complex, but he still takes an optimistic outlook.

Asked that Alibaba was accused to steal the interests of Alipay.com, a leading payment service provider under Alibaba, from other shareholders, Jack Ma replied that it is a peaceful negotiation and it is impossible that other shareholders do not the thing in advance. He said Yahoo and Softbank consider their respective interests and he has to consider the interests of all shareholders.

Jack Ma said Alipay.com by far has obtained the payment license in China and Alibaba, as the largest individual shareholder of the payment company, must take the interests of all shareholders and employees into account.

In 2005, Yahoo obtained a 40% stake in Alibaba and a 35% voting right, and the stake was diluted to 39% later. however, the first quarter fiscal report shows the stake held by Yahoo in Alibaba is 43%.

Source: www.163.com (June 02, 2011)

KEYWORD: BEIJING INDUSTRY KEYWORD: Internet & Online Services & Media SUBJECT CODE: Internet & Online Services
E-commerce
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negotiation
payment service
shareholder
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payment license

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