• Wed, Jul. 12, 2:00 AM
    • Ant Financial, the Alibaba (NYSE:BABA) affiliate that agreed to buy MoneyGram (NYSE:MGI) for $1.2B, has resubmitted the deal for U.S. review, Reuters reports.
    • The tie-up is the latest and most high-profile transaction to be refiled this year with CFIUS, after it was unable to secure clearance within the 75 days that is awarded for assessing applications.
    Wed, Jul. 12, 2:00 AM | 22 Comments
  • Wed, Jun. 28, 5:30 AM
    • Looking to strengthen its cloud business, Alibaba (NYSE:BABA) is closing in on a deal to acquire ZTE's (OTCPK:ZTCOY) software subsidiary, sources told Bloomberg, quoting a price tag of between 2B and 3B yuan ($294M-$441M).
    • A sale will also help replenish ZTE's coffers, depleted by a record $1.2B fine levied this year by the U.S. government for violating sanctions on technology exports.
    Wed, Jun. 28, 5:30 AM | 5 Comments
  • Tue, Jun. 13, 10:48 AM
    • Verizon (VZ -0.9%) has closed on its $4.476B acquisition of Yahoo's (YHOO -1.1%) core business, bringing to a symbolic end the saga of the sale of an Internet pioneer, and launching a pair of new enterprises each with a different focus.
    • As planned, Yahoo and its Internet assets will join with dozens of other Verizon brands (including HuffPost, AOL, Tumblr and others) under Oath, a new subsidiary.
    • "The combined set of assets across Verizon and Oath, from VR to AI, 5G to IoT, from content partnerships to originals, will create exciting new ways to captivate audiences across the globe," says Verizon's Marni Walden.
    • Meanwhile, what's left of Yahoo will register as an investment company, Altaba, to manage a stake of about 15% in Alibaba (BABA -0.4%) and of about 36% in Yahoo Japan (YAHOY -2.7%), along with cash and equivalents, some minority investments, and patent holding unit Excalibur.
    • With the closing, David Filo, Eddy Hartenstein, Richard Hill, Marissa Mayer, Jane Shaw, Jeffrey Smith and Maynard Webb Jr. resigned from the Yahoo/Altaba board, leaving Chairman Eric Brandt, Tor Braham, Catherine Friedman and Thomas McInerney (who will become CEO).
    • Altaba will trade on Nasdaq under YHOO through Friday; starting Monday, it will trade under ticker AABA (no action required by stockholders).
    • Yahoo statement
    • Verizon statement
    Tue, Jun. 13, 10:48 AM | 47 Comments
  • Thu, Jun. 8, 12:22 PM
    • Yahoo (YHOO +8.4%) shareholders have approved the sale of its core Internet operating business to Verizon (VZ -0.5%).
    • The companies now expect the deal to close on Tuesday, after which existing Yahoo will become Altaba and register as an investment company (to manage its holdings of Alibaba (BABA +11.3%) and Yahoo Japan (YAHOY +1.3%)).
    • Yahoo has extended its Dutch auction self-tender to buy up to $3B in its common stock, until June 16 at 11:59 p.m. ET. That offer was set to expire June 13. Some 20,233 shares were tendered by the close yesterday.
    Thu, Jun. 8, 12:22 PM | 19 Comments
  • Wed, May 24, 12:05 PM
    • UBS has given a boost to its price target on Yahoo (YHOO -0.7%) on the prospect of tax efficiency as the company left behind in the Verizon deal works to sort out its stake in Alibaba (BABA -0.6%).
    • Yahoo shares are down to $49.99, just off UBS' old target of $50. Analyst Eric Sheridan has boosted to $58, implying 16% upside.
    • The soon-to-be-Altaba might find tax-efficient ways of dealing with its 15% stake in Alibaba as well as a 35% interest in Yahoo Japan (YAHOY +0.6%), neither of which are headed to Verizon in the deal.
    • "We anticipate that the Altaba management will squarely focus on maximizing the tax efficiency of any disposal of its Alibaba and Yahoo Japan stakes post the core sale," Sheridan says, adding possible federal tax cuts offer additional options.
    Wed, May 24, 12:05 PM | 28 Comments
  • Tue, May 2, 5:19 AM
    • Chinese e-commerce giant JD.com Inc.(NASDAQ:JD) is in talks to take a major stake in Indonesian firm Tokopedia. Sources indicate a JD investment of hundreds of millions of dollars could increase the valuation of Tokoipedia to over $1B.
    • Tokopedia is a major rival of Alibaba (NYSE:BABA).
    Tue, May 2, 5:19 AM
  • Mon, Apr. 17, 3:27 AM
    • Ant Financial raises its offer for MoneyGram International (NYSE:MGI) to ~$1.2B, winning the backing of MGI's board as it beats out a rival offer from Euronet Worldwide (NASDAQ:EEFT).
    • Ant, the finance affiliate of Alibaba Group (NYSE:BABA), increases its bid to $18/share in cash from $13.25, and agrees to assume or refinance MGI's debt; EEFT last month offered $15.20/share for MGI.
    • Ant could still face potential political obstacles, with U.S. lawmakers urging the Committee on Foreign Investment in the U.S. to conduct a full review of the deal.
    Mon, Apr. 17, 3:27 AM | 3 Comments
  • Tue, Apr. 11, 12:44 PM
    • MoneyGram International (MGI +0.6%) disputes claims made by Euronet that a sale of the company to Ant Financial (NYSE:BABA) would present a risk to U.S. national security.
    • The company is scheduled to hold talks with Euronet Worldwide (NASDAQ:EEFT), which is on the books with a higher offer.
    • Ant Financial is also fighting hard, calling out the lower number of Euronet jobs based in the U.S. compared to its own plan to increase U.S. jobs.
    Tue, Apr. 11, 12:44 PM
  • Tue, Mar. 21, 4:16 AM
    • Marking a further push into entertainment, Alibaba (NYSE:BABA) has fully acquired online ticketing platform Damai.cn for an undisclosed amount.
    • "This continues an earnest three-year romance," the firm said on its Sina Weibo platform.
    • Damai claims to have hundreds of millions registered users, and has sold tickets for over 1.8M events in 330 cities worldwide.
    Tue, Mar. 21, 4:16 AM | 3 Comments
  • Fri, Mar. 3, 10:20 AM
    • Alibaba (NYSE:BABA) confirms that it's investing $177M in Indian e-commerce player Paytm.
    • The company picks up a 36.31% stake in Paytm through its Alibaba.com Singapore E-Commerce subsidiary.
    • The deal values Paytm at close to $1B.
    • Previously: Alibaba takes stake in Indian e-commerce startup (Feb. 3)
    Fri, Mar. 3, 10:20 AM | 16 Comments
  • Mon, Feb. 20, 3:56 AM
    • Alibaba (NYSE:BABA) has formed a strategic partnership with Bailian Group, one of China's largest retail conglomerates, extending a push into bricks-and-mortar retail as online growth slows.
    • At a press conference in Shanghai, the two companies said they would leverage their troves of consumer data in order to integrate offline stores, merchandise, logistics and payment tools to deliver a better overall shopping experience. They would also "explore new forms of retail opportunities across each other's ecosystem," according to a statement.
    • Alibaba's move comes on the heels of a recent purchase of a stake in Suning Commerce Group, as well as plans to take a controlling stake in Intime Retail Group and privatize it.
    Mon, Feb. 20, 3:56 AM | 14 Comments
  • Fri, Feb. 17, 1:55 PM
    Fri, Feb. 17, 1:55 PM | 1 Comment
  • Fri, Feb. 17, 9:27 AM
    • Shares of Sun Art Retail Group (OTCPK:SURRY, OTCPK:SURRFrose 6.5% in Hong Kong trading after reports emerged indicating that Alibaba  (NYSE:BABA) is in talks for a takeover.
    • Sun Art runs the RT-Mart convenience store chain.
    Fri, Feb. 17, 9:27 AM | 1 Comment
  • Fri, Feb. 3, 2:32 PM
    • Alibaba (BABA) plans to lead a $200M funding round in Indian startup Paytm, sources tell Bloomberg.
    • The investment from the company and SAIF Partners will value Paytm at $1.1B.
    • A statement from Alibaba indicates that it sees great potential in the Indian e-commerce market.
    Fri, Feb. 3, 2:32 PM | 14 Comments
  • Thu, Jan. 26, 9:20 AM
    • Moneygram (NYSE:MGI) confirms it accepted a buyout offer from Ant Financial at $13.25 per share. The deal is valued at $880M.
    • The company says the deal will connect MoneyGram's money transfer network of 2.4B bank and mobile accounts and 350K physical locations with Ant Financial's global base of users.
    • MoneyGram will remain headquartered in Dallas after the merger.
    • "The acquisition of MoneyGram is a significant milestone in our mission to bring inclusive financial services to users around the world," says Ant CEO Eric Jing.
    • Ant Financial is an affiliate company of Alibaba (NYSE:BABA).
    • MGI +9.68% premarket to $13.03.
    • Source: Press Release
    Thu, Jan. 26, 9:20 AM | 22 Comments
  • Tue, Jan. 10, 5:29 AM
    • Deepening its integration with brick-and-mortar stores, Alibaba (NYSE:BABA) is leading a $2.6B bid to privatize Intime Retail Group (OTC:INTIY), a leading department store chain with 29 outlets and 17 shopping malls across China.
    • In 2015, Alibaba acquired a 20% stake in Suning, which operates over 1,600 Chinese stores that sell consumer electronics and appliances.
    Tue, Jan. 10, 5:29 AM | 1 Comment