Friday, December 2, 2011

Yahoo shares soar amid reports that Alibaba is preparing bid


Shares in Yahoo rose on reports that China's Alibaba Group was preparing a takeover bid with private equity firms Blackstone and Bain CapitalYahoo shares ended Thursday trading on the Nasdaq tech exchange 3.3% higher, having been 4.8% up at one point.
However, "Alibaba Group has not made a decision to be part of a whole company bid for Yahoo," said John Spelich, spokesman of Alibaba Group.

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