Alibaba denies IPO report, will talk with Yahoo if offering delayed to 2015

|About: Alibaba Group Holding Limited (BABA)|By:, SA News Editor

An Alibaba (ABABA) spokesman has denied a report stating his company is planning a U.S. IPO, and has hired Morgan Stanley and Credit Suisse to handle the offering.

The spokesman adds Alibaba will renegotiate its deal with 24% owner Yahoo (YHOO +0.5%) in the event its IPO gets delayed beyond 2014.

Kara Swisher previously reported Alibaba has to go public by the end of 2015 to repurchase half of Yahoo's remaining stake, per the terms of their 2012 deal. Since then, the companies have revised their deal to lower the number of shares Yahoo has to sell back at IPO time by 20%.