Alibaba Searching for Thieves for $4 Billion Yahoo Buyback

Chinese firm had expressed previous interest in buying the search company.

By Sajid Farooq
|  Thursday, Dec 8, 2011  |  Updated 2:50 PM PDT
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Alibaba Searching for Thieves for Yahoo Buyback

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BEWendy Li, vice director of business development department of Ali Baba works at the office of Alibaba (China) technology Co.

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Alibaba may need to find 40 thieves if it really wants Yahoo as bad as it appears.

The Chinese company, who has made no secrets that it wants to take over the search company, is working to secure $4 billion in debt financing to repurchase the 40 percent of itself that Yahoo controls.

Alibaba may be trying to clear room and the legal hurdles of an incestual relationship since Yahoo owns part of the company.

Just six years ago it was asking Yahoo for $1 billion in financial backing to help it compete with eBay. 

In October, Alibaba's CEO Jack Ma said his company had $20 billion in cash reserves ready for a Yahoo takeover.

Last week, Yahoo was mulling over offers to take partial control of the company and Thursday morning veteran and respected tech reporter Kara Swisher of All Things D reported that Yahoo "board chairman Roy Bostock and other members of its strategic committee are doing more hurrying up and less waiting by more formally meeting with the two private equity firms

that have made bids."

Alibaba is not believed to be one of those groups.

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