Yahoo Will Close Deal to Sell Back Alibaba Stake Next Week [REPORT]

Yahoo is about to move one step closer to ending its rocky partnership with the Chinese e-commerce giant Alibaba.

Yahoo will officially close the deal to sell back half of its 40% stake in Alibaba next week for $7.6 billion, according to Kara Swisher at AllThingsD. The deal is set to be announced next Wednesday.

We reached out to Yahoo for comment on the report and will update this post when we hear back.

The two companies first announced plans for the buyback in May. At the time, Alibaba was expected to pay as much as $7.1 billion in cash and preferred stock. According to ATD, the final deal will also see Alibaba pay Yahoo $550 million relating to its annual licensing fees to Y…
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