Melanie's Feed
May 21, 2012

Yahoo to sell an Alibaba stake for $7.1 billion, shares rise

SHANGHAI/NEW YORK (Reuters) – Chinese Internet entrepreneur Jack Ma’s Alibaba Group is buying back up to half of Yahoo Inc’s 40 percent stake for $7.1 billion (4.49 billion pounds) in a deal that moves the Chinese e-commerce leader closer to a public listing.

Under the agreement, Yahoo will sell one-half of its stake in Alibaba for at least $6.3 billion in cash and up to $800 million in new Alibaba preferred stock. The deal, announced on Monday, caps years of often-acrimonious talks between Alibaba and Yahoo over how the Chinese company could reclaim some or all of the stake that Yahoo bought for about $1 billion in 2005.

May 21, 2012

Alibaba buys back 20 percent stake held by Yahoo for $7.1 billion

SHANGHAI/NEW YORK (Reuters) – Chinese Internet entrepreneur Jack Ma is buying back up to half of a 40 percent stake in his Alibaba Group from Yahoo Inc for $7.1 billion, in a deal that moves the Chinese e-commerce leader closer to a public listing.

Under the agreement, Yahoo will sell half of its stake in Alibaba for at least $6.3 billion in cash and up to $800 million in new Alibaba preferred stock. The deal, announced in a joint statement on Monday, caps years of talks between the two firms over Alibaba reclaiming some or all of the 40 percent stake that Yahoo bought for about $1 billion in 2005.

May 21, 2012

Alibaba buys back 20 pct stake held by Yahoo for $7.1 bln

SHANGHAI/NEW YORK, May 21 (Reuters) – Chinese Internet
entrepreneur Jack Ma is buying back up to half of a 40 percent
stake in his Alibaba Group from Yahoo Inc for $7.1
billion, in a deal that moves the Chinese e-commerce leader
closer to a public listing.

Under the agreement, Yahoo will sell half of its stake in
Alibaba for at least $6.3 billion in cash and up to $800 million
in new Alibaba preferred stock. The deal, announced in a joint
statement on Monday, caps years of talks between the two firms
over Alibaba reclaiming some or all of the 40 percent stake that
Yahoo bought for about $1 billion in 2005.

May 16, 2012

Sina results beat view, warns Weibo to eat into Q2

May 15 (Reuters) – Sina Corp sounded a bearish note
for the coming quarters, warning that further losses may lie
ahead because of increased investment into its microblogging
platform Weibo, China’s version of Twitter.

China’s largest Internet portal and media website posted a
first-quarter loss that was smaller than Wall Street had
expected after advertising revenue shot up 9 percent despite a
weak domestic market, propelling its shares 7 percent higher in
after-hours trade.

May 11, 2012

Baidu says to launch new smartphone next week

BEIJING, May 11 (Reuters) – Baidu Inc, China’s
largest search engine, will launch a new smartphone partnership
next week, that will see the smartphone use an upgraded version
of its mobile operating system, a senior company executive said
on Friday.

Baidu will announce the tie-up next week for new mobile
devices, similar to Baidu’s partnership with Dell Inc
last December when Dell launched a smartphone running on Baidu’s
Yi platform. However, the new smartphones will run an upgraded
version of Baidu Yi and will be called Baidu Cloud.

May 10, 2012

Amazon aims for top three in China market

BEIJING (Reuters) – Amazon.com Inc (AMZN.O: Quote, Profile, Research), the world’s largest online retailer, is prepared to run losses in China to secure a position among the top three players by sales in the country’s cut-throat but booming e-commerce market, its China chief said on Thursday.

China’s $36 billion e-commerce industry is hyper-competitive with online retailers and marketplaces such as Dangdang Inc (DANG.N: Quote, Profile, Research), 360buy and Alibaba Group’s Taobao Mall frequently launching price wars and marketing campaigns to win market share.

Apr 27, 2012

China state news portal soars on share debut

SHANGHAI/HONG KONG April 27 (Reuters) – Shares in China’s
People.cn Co Ltd closed 74 percent higher on their
first day of trading on Friday, putting a market value higher
than the New York Times on the state-backed news portal
after a $219 million public offer.

But its performance contrasted with the flat Hong Kong debut
of the very different Haitong Securities Co, China’s
No. 2 brokerage by assets, which raised $1.7 billion in
Asia-Pacific’s biggest share offering this year.

Apr 27, 2012

China state news portal jumps on debut after $219 million IPO

SHANGHAI (Reuters) – China’s People.cn Co Ltd finished 74 percent higher on its first day of trading in Shanghai after a $219 million IPO as investors flocked to the state-backed news portal, giving it a bigger market value than the New York Times.

Demand for People.cn shares were so high that the stock was suspended for most of the afternoon, after triggering multiple stock exchange circuit breakers.

Apr 27, 2012

People’s Daily news portal soars on Shanghai debut

SHANGHAI, April 27 (Reuters) – Shares of China’s People.cn
Co Ltd surged more than 75 percent on their first
day of trading in Shanghai, as investors flocked to the
state-backed news portal, giving it a bigger market
capitalization than the New York Times.

Demand was so high that after an hour of trading, shares of
People.cn, the online news portal of Chinese government
mouthpiece the People’s Daily, were temporarily suspended after
triggering the stock exchange’s circuit breaker of rising more
10 percent from its opening price.

Apr 25, 2012

China iPhone sales surge, but can Apple protect its apps?

SHANGHAI (Reuters) – Apple Inc’s blowout quarterly iPhone sales in China show that a barrage of bad publicity hasn’t dented demand. Now, it has to find a way to sell more smartphones in the world’s biggest mobile market, without its fans jumping the paywall.

iPhone sales surged in China after Apple signed up China Telecom Corp to sell the device last month – the second of the country’s ‘big three’ carriers to get the iPhone. The biggest, China Mobile Ltd, which has over 600 million subscribers, doesn’t yet have compatible technology.