CIC poised to invest $2b in Alibaba Group – report
China Investment Corp. (CIC) may take a $2 billion stake in Alibaba Group in order to finance the Chinese internet company’s purchase of a 20% stake in itself from Yahoo. Last week, Alibaba agreed to purchase half of Yahoo’s 40% holding for $7.1 billion and indicated that an IPO would follow.
According to Reuters, talks between CIC and Alibaba are at an advanced stage. The buyback from Yahoo values the company at $35 billion but bankers argue the valuation could reach around $100 billion over...
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