Alibaba.com Corp., the closely held Chinese Internet company whose biggest shareholder is Yahoo! Inc., is ready for a possible purchase of the U.S. company’s stake in it if the shares are offered.
“We are very well prepared,” Alibaba Chairman Jack Ma said today at a briefing in Hangzhou, east China, where the company is based. Alibaba Chief Financial Officer Joseph Tsai is spending most of his time evaluating the situation, Ma said, without saying if the company would buy Yahoo’s stake or giving details.
Yahoo said last month it may sell its Asian assets to boost investor value after signing an agreement that ended billionaire Carl Icahn’s bid to oust the company’s board and restart talks for Microsoft Corp. to buy the Sunnyvale, California-based Web portal. Those Asian assets include a 39 percent stake in Alibaba.