Alibaba Chief Jack Ma Expresses his Interest to Acquire Yahoo

October 01 00:00 2011

New York, October 1 (RainbowNewsLine.com) – The founder and CEO of Chinese e-commerce giant Alibaba, Jack Ma is “very interested” in buying Yahoo (NASDAQ: YHOO), if such an opportunity arises. He has held discussions with other potential buyers about the various options available. He has also expressed his desire to acquire all of Yahoo, if that is possible. He said in answer to a question that he would like to have “The whole piece of Yahoo!,” and added that “China is already ours, right? It’s already in my pocket.”

In after-hours trading, Yahoo shares jumped 5 percent to $13.80. By acquiring Yahoo, Mr. Ma would be able to expand his online empire into one of the world’s most important internet markets. He is now planning to stay in the United States next year in order to learn more about the country and the market. He will have his base in San Francisco Bay area but he will travel across the country besides continuing to discharge his operational duties as Chairman and CEO of the Alibaba Group.

Mr. Ma has not yet visited Yahoo to discuss a deal. He referred about his company’s long-running relationship with Yahoo that dates back to 2005, by saying “We are probably one of the very few companies that really understand Yahoo! USA very well.”

Mr. Ma said that he could not predict as to when the deal will take place but he is keeping his fingers crossed.

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