Alibaba boss eyes Yahoo takeover
The chief executive of Chinese internet company Alibaba Group Holding says he would be “very interested” in buying Yahoo.
Jack Ma made the statement in response to a question during a speaking engagement at Stanford University, New York, on Friday, said John Spelich, a spokesman for Alibaba.
Mr Ma also told the audience that prospective buyers had approached Alibaba to discuss a possible purchase for Yahoo, Mr Spelich said. The spokesman did not identify the prospective buyers.
Yahoo is trying to decide whether to sell part or all of itself following the sacking last month of Carol Bartz as chief executive. Employees were told in an email in late September that the process could take several months.
In the meantime, there will be much speculation about who might be interested in the company.
Dana Lengkeek, a Yahoo spokeswoman, said the company had no comment on Ma’s remarks.
Yahoo owns about 40% of Alibaba.
Ms Bartz was sacked because she was unable to boost Yahoo’s advertising revenue and make the company more competitive with Google and Facebook. Yahoo’s net revenue – the amount the company keeps after paying advertising commissions- fell 5% in the second quarter. Google’s revenue soared 36%.
The company is also searching for a new CEO while also considering whether to sell itself. Chief financial officer Tim Morse is serving as interim CEO while the search for a successor to Ms Bartz continues.
