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(Reuters) - Alibaba Group has hired a Washington lobbying firm in a sign that the Chinese e-commerce company would be willing to make a bid for all of Yahoo Inc in the event that talks to unwind their Asian partnership fail.
Japan's Softbank Corp, which owns a 30 percent stake in Alibaba and is a partner in Yahoo Japan, is also listed as an Alibaba affiliate in the disclosure by the lobbying firm, Duberstein Group Inc.
Alibaba Group's founder, Jack Ma, said in September he was keen to buy all of Yahoo if the opportunity presented itself.
"The national security concern is sometimes just an excuse for commercial concerns for any country, but certainly for the United States," said Mark Natkin, managing director of Beijing-based consultancy Marbridge Consulting. "I don't think there should be a big concern (for Alibaba buying Yahoo). Users may share or keep as much data as they like.
While they would jointly make a bid for the whole company, the idea was for the buyout firms to take over Yahoo's U.S. operations and for Alibaba and Softbank to get the Asian assets.
But a buyout of Yahoo has now been put on the backburner as the U.S. Internet company is considering a proposal to address just the Asian assets that Alibaba and Softbank want. That plan, valued at roughly $17 billion, would reduce Yahoo's 40 percent stake in Alibaba and get Yahoo out of Yahoo Japan, sources told Reuters last week.
Yahoo is exploring proposals to revamp its business in the face of competition from Internet heavyweights such as Google Inc and Facebook.
The Duberstein Group is headed by Kenneth Duberstein, a former White House chief of staff under U.S. President Ronald Reagan. Its other clients include BP America Inc, Goldman Sachs & Co and Pfizer Inc.
Originally posted by DarthMuerte
Just set up a new account in the last few minutes.
Originally posted by Afterthought
reply to post by DarthMuerte
Good idea, but I'm afraid you should start packing your bags.