Investor consortium pays $1.6b for 5% of Alibaba
Silver Lake, Yunfeng Capital and other investors have purchased a 5% stake in Chinese e-commerce firm Alibaba Group, worth $1.6 billion. The transaction is thought to be the tender offer made to employee shareholders and option holders, as well as certain other shareholders, in September. Digital Sky Technologies and Temasek Holdings were also confirmed as participants when the deal was announced.
Sources told Reuters that the investment closed on November 1. The four investors have reportedly been in talks about a joint bid for Yahoo, which holds a 40% stake in Alibaba. The US internet firm emerged...
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