Yahoo, SoftBank officially back Alibaba partnership structure


In a move that brings Alibaba one more step closer to a U.S.IPO filing, 24% shareholder Yahoo (YHOO +1.2%) and 36.7% shareholder SoftBank (SFTBF.PK) have given their blessing to a corporate structure that would allow its 28 partners (largely founders and management) to maintain firm control of the Chinese e-commerce giant's board (and which didn't sit well with Hong Kong regulators).

Alibaba vice chairman Joe Tsai has written a blog post defending his company's planned partnership structure. Echoing arguments made by Google and Facebook regarding their dual-class share structures, Tsai asserts tight partner control will "help maintain the Alibaba culture."

Yahoo is outperforming following the news. SoftBank rose 1.6% overnight in Tokyo.

Yesterday: Yahoo rallies as Alibaba IPO reportedly draws closer

From other sites
Comments (1)
  • thor321
    , contributor
    Comments (20) | Send Message
     
    YEA BUDDYS THISIS GONA HAPN HOPS SO CAUSE ITS GONNA BE AWESOME!!
    27 Sep 2013, 10:27 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs