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Yahoo will sell Alibaba stake despite IRS tax stance
2015-09-29 08:50:00| Telecompaper Headlines
(Telecompaper) Yahoo said it plans to move forward with the sale of its stake in Alibaba Group even though the IRS has declined to rule on whether the transaction would be tax free, Reuters reported. Yahoo said earlier this month that the IRS had denied its request for a private letter ruling on whether the spinoff of its stake in Alibaba would be considered tax free. The sale is still subject to certain other conditions including the receipt of a legal opinion on the tax-free treatment of the deal under US federal tax laws, Yahoo said in a regulatory filing. Based on Alibaba's close on 28 September of USD 59.24 per share, Yahoo's 384 million shares in the e-commerce company are worth USD 22.75 billion. The value of the stake is slightly less than Yahoo's market capitalization of about USD 25.98 billion based on 941 million shares outstanding on 31 July and the close on 28 September. Many analysts say Yahoo's core business is worth close to nothing without its Asian assets.
METRO GROUP And Alibaba Group Join Forces To Promote E-commerce In China
2015-09-23 06:20:00| dairynetwork Home Page
METRO GROUP recently announced a strategic partnership with the leading Chinese online and mobile commerce company Alibaba Group to promote business in China’s rapidly growing e-commerce market
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Alibaba turns to Napa Valley to quench China's thirst for red wine
2015-09-01 18:31:08| Beverages - Topix.net
B2B e-commerce is larger than retail e-commerce in transaction volume. Read key data on industry sales, trends in marketing and web content, technology investment, and more.
Alibaba quarterly revenue misses estimates, slowest growth in more than three years
2015-08-12 15:33:54| IT Services - Topix.net
Alibaba Group Holding Ltd's revenue for the three months ended June rose 28 percent, missing analysts' estimates, with growth slowing to its lowest rate in more than three years. China's biggest e-commerce company posted quarterly revenues of $3.27 billion, below an expected $3.39 billion, according to a Thomson Reuters SmartEstimate poll of 28 analysts.
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Alibaba opg profit falls on option costs, revenues up 28%
2015-08-12 15:06:00| Telecompaper Headlines
(Telecompaper) Alibaba Group reported second-quarter revenues up 28 percent year-on-year to CNY 20.25 billion. The company saw the amount of merchandise sold on its Chinese e-commerce platforms grow by 34 percent year-on-year and 12 percent compared to the first quarter to CNY 673 billion. Purchases over mobile devices grew even faster, more than doubling compared to the same period of 2014 to CNY 371 billion. Monthly active users of its sites were up 63 percent year-on-year to 307 million, and the number of active buyers in the past 12 months rose 32 percent to 367 million. The company increased adjusted EBITDA 23 percent year-on-year to CNY 10.59 billion, but operating profit was down 25 percent to CNY 5.16 billion due to the costs of stock options. Alibaba said that excluding the cost of stock-based compensation, its operating profit would have increased 16 percent in the period. Net profit still more than doubled, to CNY 30.82 billion from CNY 12.44 billion a year ago, due to a one-time gain of CNY 24.73 billion from spinning off its films business Alibaba Pictures.
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