According to Business Week four lead banks are preparing a loan for Alibaba Group Holding Ltd. are considering bringing in as many as four more lenders to help arrange the facility. Credit Suisse Group AG, DBS Bank Ltd., Deutsche Bank AG and Mizuho Corporate Bank Ltd. are arranging the loan.
Alibaba is seeking to buy back the 40 percent stake Yahoo owns of Alibaba and 35 percent of Yahoo Japan Corp. Alibaba and Softbank are also considering a full buyout of Yahoo and are in talks with Blackstone Group LP and Bain Capital LLC and are about to make a bid for the whole company. Source: Business Week
Thompson, former head of PayPal, has stepped to the plate to become Yahoo’s fourth chief executive in less than five years. The Boston native said he’s bringing an underdog spirit to the tall task of reigniting innovation and growth at the onetime Internet powerhouse that faces rising competition for advertising dollars from rivals Google Inc. and Facebook.
Thompson takes over Yahoo at a particularly fraught time for the company, which is in the midst of a board-level strategic review that has explored options such as selling parts or all of Yahoo and taking it private.
Source: Los Angeles Times