Alibaba, and Softbank, which controls Yahoo Japan, called off talks they had been holding about buying back significant minority interests held by Yahoo. The Asian investments are estimated to be worth some $17bn, or the bulk of its $19bn stock market value.
It was unclear how deep the differences between the sides were or whether the disagreement represented only a temporary breakdown or a longer term stalemate. Yahoo is holding out for more value, but it did this once with Microsoft and lost.
In the meantime a dissident shareholder in Yahoo on Tuesday launched a fight over control of Yahoo’s boardroom as it became known that Yahoo’s efforts to sell its Asian investments might have foundered.
Source: Financial Times