Yahoo bets big on China

Posted by Wolfgang Gruener

Yahoo on Thursday said it will pay $1 billion cash for a 40 percent stake in the Chinese Internet company Alibaba.

"Yahoo's investment underscores our long-term commitment to the Chinese market," Terry Semel, Yahoo's Chairman and CEO, said in a statement. "We believe the combination of Yahoo and Alibaba is the best approach for Yahoo to win in this region."

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