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BY JING LIU
ANCHOR ZACH TOOMBS
You're watching multisource global video news analysis from Newsy.
Yahoo! just might become a Chinese company. Here’s CNBC.
“Alibaba group’s CEO Jack Ma, the biggest e-commerce site in China is Alibaba group, he said he is very interested in buying Yahoo. He said this at Stanford University during a forum going right now. ”
Yahoo bought 40 percent of Alibaba Group’s shares back in 2005. According to The Register, Ma’s current ambition - is not only buying them back.
“Ma … said he was keen to acquire the ‘whole piece of Yahoo!’ and not just the stake the US company owns in Alibaba.”
Yahoo! is exploring its future after falling behind competition like Google and Facebook and the company also fired its CEO last month. So what does Jack Ma see in the falling purple palace? The Wall Street Journal explains.
“They still have a lot of customers, a lot of loyalty. Jack Ma sees the value there.”
But the Economic Times says buying Yahoo! won’t a piece of cake for Ma.
“Ma might in any case find the potential for value creation restricted by US lawmakers, who are unlikely to embrace a Chinese takeover of email data belonging to millions of Americans. “
And according to the financial magazine Barron’s, another obstacle also comes from the other side of the Pacific.
“Ma himself admits that a deal would be more complicated than he initially thought. In addition, Alibaba would need the Chinese government's approval to go ahead with the deal and to continue to do business, which may make it unable to make concessions.”