Beijing, 20th September: Alibaba Group has reportedly turned down Yahoo’s chief executive officer Carol Bartz’s request to join as a board member at Alibaba Group.  Yahoo has held a 39% stake at Alibaba since 2005, and recent reports have stated that Yahoo has no intention of selling them at present despite Alibaba’s approaches of a buy back. Bartz reportedly has said “the ideal time for Yahoo to exit from Alibaba will be after Taobao.com and Alipay.com, Alibaba’s online shopping and payment subsidiaries go public.”   Source: BSG Hong Kong   – www.bgsasia.com

BIIA Newsletter October I – 2010 Issue