Tokyo, Nov 10 (ANI): Japanese telecommunications corporation Softbank and China's Alibaba Group are reportedly in talks with private equity funds to make an offer for the entire acquisition of Yahoo, without the approval of the company.
According to sources, Alibaba Group and Softbank have been keen to cash in on the holdings owned by Yahoo, but both the companies have impatient with the lack of progress in straight talks with yahoo, the Japan Times reports.
The sources said the two companies aim to work with partners that haven't signed nondisclosure agreements circulated by Yahoo that can make it harder to bid for the whole company.
The sources added that Yahoo prefers to sell a smaller stake, rather than cede complete control.
According to the report, under one scenario being discussed, Softbank and Alibaba would buy back the stakes that Yahoo owns in the companies. The remaining funding needed to buy the Yahoo business would come from a private-equity firm.
In another scenario, Softbank and Alibaba would fill their own funding gaps, one source said.
According to filings with the U.S. Securities and Exchange Commission, Yahoo has a stake of about 40 percent in Alibaba, and 35 percent of Yahoo Japan. (ANI)
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