Jack Ma, Chairman and Non-Executive Director of Alibaba.com told the press at the 2nd APEC Meeting in Hangzhou that Alibaba group was ready to buy back  a 39% stake owned by Yahoo Inc.

Mr Ma said the group’s CFO, Joe Tsai, has devoted most of his time to evaluate the current situation, but he declined to confirm the buyback deal and further details.

Yahoo Inc. acquired Alibaba a near 40% stake in 2005 at a cost of US1 billion and her stake in Yahoo China.

The news coverage was found in Sina Tech News section.



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