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Alibaba aquires Yahoo! China
www.chinanews.cn 2005-10-27 08:58:49
Chinanews, Oct. 26 - According to Beijing's media, yesterday, Alibaba
officially announced the smooth and total acquisition of Yahoo! China's
assets. Yahoo!'s US$1 billion investment in Alibaba has also been
completed. At present, the newly reconfigured company has begun to
operate normally. The biggest dollar-amount acquisition in China's
internet history has been completed successfully.
According to the final agreement between both parties, Alibaba's
acquisition of Yahoo!'s Chinese assets include Yahoo!'s China portal
website, Yahoo!'s search technology, communications and advertising
businesses, 3721 internet real name search service, the Yahoo! portion of
one-click online auction business, Yahoo!'s brand name and unlimited
exclusive use of this name in China.
On August 8th, internet giant Yahoo! announced plans to spend nearly US$1
billion to acquire 35% of the shares of Alibaba, China's biggest
e-commerce company. Further news announcement revealed that Alibaba would
also officially acquire all of Yahoo!'s China.
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