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Yahoo to sell back half of its Alibaba stake for $7.1 billion, more in the latter's future IPO

It's been a bit of a sour year for Yahoo -- it's seen the departure of one of its founding fathers, suffered through a patent dispute with Facebook and lost its new CEO in a sea of scandalous accusations. Yikes. At least former head honcho Scott Thompson's negotiations to sell the firm's stake in Alibaba seem to be going through -- the two firms just announced plans to redistribute about half of Yahoo's 40-percent stake in said Chinese tech giant. Under the current agreement, Alibaba will purchase 20-percent of...

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Published By: Engadget - Sunday, 20 May, 2012