PE investors approached Alibaba's Ma to take over Yahoo Inc
Jack Ma, the founder of Alibaba Group, China’s largest e-commerce business operator, was said to have been approached by private equity investors offering to help him to jointly take over industry peer Yahoo Inc. in the US, according to Reuters.
The funds which approached Alibaba were not identified in the reports. Alibaba Group, currently 40% owned by Yahoo, was said to have not yet decided whether it will participate in a bid. This possible takeover bid emerged as Yahoo, the world's second largest search engine, has seen its business stagnate whle other contenders, such as Google, have been strengthening their operations. Alibaba Group previously formed a strategic partnership with Yahoo! Inc. to take over the operations of China Yahoo!.
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