Seeking Alpha

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
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
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