SAN FRANCISCO September 15 morning news, Alibaba Group, the largest shareholder and his Yahoo (Nasdaq: YHOO) the relationship between the growing tension.
Alibaba CEO Wei Zhe B2B business, the character doing things moderately robust Chinese professional managers, on Saturday in an interview with foreign media in strong words, said: "Ali Baba no longer needs Yahoo, Yahoo is a company facing bankruptcy. "A day later, Yahoo In response to the remarks, said David Wei, Alibaba will remain unchanged for 39% stake.
This is not the Alibaba stake of 39% with its major shareholder Yahoo, the first to say "no." Back in January of this year, Yahoo on Google out of the market position in China, Alibaba Yahoo issued a statement accusing the move reckless.
September 9, Alfred Tsoi, General Manager of Yahoo subsidiary, Yahoo Hong Kong said, "is considering" Yahoo Hong Kong to attract customers to the mainland on the website ads. This "is considering" what caused the Alibaba Group's strong rebound, the spokesman said, the situation will be reassessed according to the partnership with Yahoo.
"Yahoo, Alibaba Group, recent and Running a series of encounters, it should be said with the upcoming October 2010, this time on the node." An industry source told ZDNet, "said Yahoo in October 2005, Alibaba acquired Group shares have been agreement, after five years (ie October) Yahoo will have the largest stock of Alibaba Group Jack Ma, etc. with management rights and the same number of board seats, so the more close to this time, the Alibaba Group is bound there will be some reaction. "
Subsequently ZDNet query Alibaba Group's B2B business (HK: 01688) 2007 Hong Kong-listed in November, when the prospectus, the prospectus first 145-150 in 2005, disclosed a stake in Yahoo, Alibaba Group, the two sides signed agreement.
There is a clause, "since October 2010, the total number of Yahoo's directors will be appointed on that date and the number of directors may be appointed by the management shareholders of Alibaba Group, on that date both the number of directors may be appointed by this higher the number. "And before, Alibaba Group, the Board comprises four directors, and management of Alibaba Group, respectively, assigned to two shareholders, Yahoo and Alibaba Group owns 29% stake in Softbank each appoint one.
"This means that in October 2010, Yahoo will increase in the Alibaba Group, the Board of Directors the right to speak." The industry source said.
Originated $ 1 billion deal
The origin of Alibaba and Yahoo have from five years ago.
August 11, 2005, Yahoo and Alibaba Group, announced in Beijing, Yahoo 10 billion, plus get all the assets of Yahoo China's Alibaba Group, 39% of the shares.
Awful at the time shocked the global Internet industry trade, it is generally agreed that Ma did a very good deal, but it is such a sale is in the details of the transaction were not disclosed foreshadowed.
Alibaba Group and Yahoo have signed a number of key provisions from 2010 major changes in October. Includes the following:
From October, the Alibaba Group holding 39% economic interest in Yahoo, their right to vote from the terms of the agreement was 35% to 39%, while Ma and other management of the voting rights reduced to 31.7% from 35.7%, Softbank to maintain 29.3% economic interest and voting rights remain unchanged, then Yahoo, Alibaba will become the largest shareholder of the real;
Terms Original: Yahoo has agreed to shareholders of Alibaba.com Corporation management in any way directed by its shareholders on the shares held by Alibaba.com Corporation more than 35% of the shares voting, until ... ... (c) in October 2010 ... ...
From October, Yahoo board seats will be increased from one to two, namely, Yahoo and Alibaba's management were to appoint two directors, Softbank is still to appoint a director. Provision also provides that if Ma holds a share, the right to designate a director on the board;
Terms of the original: if Softbank agreement for equity to below the lower limit and lose the right to appoint, then Yahoo may appoint one additional director, but since 31 October 2010 One from Yahoo's total number of directors will be appointed on that date may be appointed The number of directors and shareholders of Alibaba.com Corporation management may be appointed on that date between the number of directors the higher the number.
From October, Yahoo, Softbank, and Alibaba was reached by three shareholders, "Alibaba CEO Jack Ma will not be dismissed" clause expired. By then, Alibaba Group, the largest shareholder of Yahoo, will have the opportunity to dismiss the articles of incorporation in accordance with the Board or CEO Jack Ma.
Terms Original: Yahoo, Softbank and Alibaba.com Corporation management shareholders have agreed to dismiss Alibaba.com Corporatoni Ma will not be the CEO position, but he is in (A) Alibaba.com Corporation listed, (b) twenty Next October 2010 or (c) his resignation, retirement, death or no longer competent (whichever is the earliest) before being dismissed, except for specific subject. Alibaba.com Corporation Ma has just one share, Alibaba.com Corporation management shareholders will continue to have the right to appoint at least one director.
The analysts said on ZDNet, as "financial investors" will not rush in though Yahoo Alibaba Group's daily operations, but was able to become the Yahoo Terms of Alibaba shares sold for more when the interests of the weight, especially the loss of control of the Alibaba Group management team will always face an uncertain risk.
Fuse: in charge of Yahoo's Jerry Yang to step down Bartz
Agreement scheduled for 2005, but Yahoo's a few years after the completion of investment seems to never worried about Jack Ma in 2010, these changes may exist. Even in 2007, Alibaba B2B market reporter at the conference, the face of the 2010 "Alibaba CEO Jack Ma will not be dismissed" when the terms expire how to do the problem, Ma is very confident in answering a reporter's question said: "I said before 2010, I promise I will in, so I wrote the book on the 2010 Ma will not leave, not after 2010, they pushed me out."
Clearly, the Ma of Alibaba Yahoo does not look to have control over very confident. According to Alibaba insiders, former Yahoo CEO Jerry Yang and Ma both good personal relationships, and Yang before the cooperation is to promote the capital, but such a relationship perhaps Alibaba Group believes that even in 2010, Yahoo has not exercised these provisions conferred rights.
But the incident because of the ouster of Yahoo's founder Jerry Yang, CEO Carol Bartz came to power the new generation turning point.
There were foreign media reports, Ma took office in early 2009, when Butts visit to the United States, Bartz face in front of Alibaba's management, accusing Yahoo China Ma did not do a good job.
In this case, Ma and his management team began to re-examine 39% of Yahoo shares to the company's uncertainty.
Yahoo's insistence lead to conflict
In order to avoid the crisis of control, Alibaba Group began brewing company to reduce its stake in Yahoo, but Yahoo has not been consent.
In May, the shareholders of Alibaba's B2B business meeting, Alibaba Group Chief Financial Officer Caichong Xin said publicly that Alibaba would like to buy back the stake held by the hands of Yahoo, Alibaba is not short of money, but Yahoo is not willing to sell.
Alibaba is also close to the informed sources said, had planned to lobby a number of Alibaba China state-owned banks buy back from Yahoo, Alibaba Group shares, the existing management team to ensure that the voice on the board will not be replaced by Yahoo.
But all none of any progress, Yahoo spokesman on September 12, said in an interview, will maintain 39 percent of Alibaba's shares unchanged.
This is the Alibaba Group and Yahoo recently deteriorated relationship between the direct cause.
Alibaba Group, a wholly-owned unlisted assets Taobao and Alipay valuable, investment bankers estimated $ 10 billion in Taobao, Alipay $ 5 billion. Investment bank believes that the market can not make accurate estimates of these two companies being unwilling to sell Yahoo shares of Alibaba Group, one of the reasons Yahoo's best exit time listed or later Taobao and Alipay.
Alibaba CEO Wei Zhe B2B business, the character doing things moderately robust Chinese professional managers, on Saturday in an interview with foreign media in strong words, said: "Ali Baba no longer needs Yahoo, Yahoo is a company facing bankruptcy. "A day later, Yahoo In response to the remarks, said David Wei, Alibaba will remain unchanged for 39% stake.
This is not the Alibaba stake of 39% with its major shareholder Yahoo, the first to say "no." Back in January of this year, Yahoo on Google out of the market position in China, Alibaba Yahoo issued a statement accusing the move reckless.
September 9, Alfred Tsoi, General Manager of Yahoo subsidiary, Yahoo Hong Kong said, "is considering" Yahoo Hong Kong to attract customers to the mainland on the website ads. This "is considering" what caused the Alibaba Group's strong rebound, the spokesman said, the situation will be reassessed according to the partnership with Yahoo.
"Yahoo, Alibaba Group, recent and Running a series of encounters, it should be said with the upcoming October 2010, this time on the node." An industry source told ZDNet, "said Yahoo in October 2005, Alibaba acquired Group shares have been agreement, after five years (ie October) Yahoo will have the largest stock of Alibaba Group Jack Ma, etc. with management rights and the same number of board seats, so the more close to this time, the Alibaba Group is bound there will be some reaction. "
Subsequently ZDNet query Alibaba Group's B2B business (HK: 01688) 2007 Hong Kong-listed in November, when the prospectus, the prospectus first 145-150 in 2005, disclosed a stake in Yahoo, Alibaba Group, the two sides signed agreement.
There is a clause, "since October 2010, the total number of Yahoo's directors will be appointed on that date and the number of directors may be appointed by the management shareholders of Alibaba Group, on that date both the number of directors may be appointed by this higher the number. "And before, Alibaba Group, the Board comprises four directors, and management of Alibaba Group, respectively, assigned to two shareholders, Yahoo and Alibaba Group owns 29% stake in Softbank each appoint one.
"This means that in October 2010, Yahoo will increase in the Alibaba Group, the Board of Directors the right to speak." The industry source said.
Originated $ 1 billion deal
The origin of Alibaba and Yahoo have from five years ago.
August 11, 2005, Yahoo and Alibaba Group, announced in Beijing, Yahoo 10 billion, plus get all the assets of Yahoo China's Alibaba Group, 39% of the shares.
Awful at the time shocked the global Internet industry trade, it is generally agreed that Ma did a very good deal, but it is such a sale is in the details of the transaction were not disclosed foreshadowed.
Alibaba Group and Yahoo have signed a number of key provisions from 2010 major changes in October. Includes the following:
From October, the Alibaba Group holding 39% economic interest in Yahoo, their right to vote from the terms of the agreement was 35% to 39%, while Ma and other management of the voting rights reduced to 31.7% from 35.7%, Softbank to maintain 29.3% economic interest and voting rights remain unchanged, then Yahoo, Alibaba will become the largest shareholder of the real;
Terms Original: Yahoo has agreed to shareholders of Alibaba.com Corporation management in any way directed by its shareholders on the shares held by Alibaba.com Corporation more than 35% of the shares voting, until ... ... (c) in October 2010 ... ...
From October, Yahoo board seats will be increased from one to two, namely, Yahoo and Alibaba's management were to appoint two directors, Softbank is still to appoint a director. Provision also provides that if Ma holds a share, the right to designate a director on the board;
Terms of the original: if Softbank agreement for equity to below the lower limit and lose the right to appoint, then Yahoo may appoint one additional director, but since 31 October 2010 One from Yahoo's total number of directors will be appointed on that date may be appointed The number of directors and shareholders of Alibaba.com Corporation management may be appointed on that date between the number of directors the higher the number.
From October, Yahoo, Softbank, and Alibaba was reached by three shareholders, "Alibaba CEO Jack Ma will not be dismissed" clause expired. By then, Alibaba Group, the largest shareholder of Yahoo, will have the opportunity to dismiss the articles of incorporation in accordance with the Board or CEO Jack Ma.
Terms Original: Yahoo, Softbank and Alibaba.com Corporation management shareholders have agreed to dismiss Alibaba.com Corporatoni Ma will not be the CEO position, but he is in (A) Alibaba.com Corporation listed, (b) twenty Next October 2010 or (c) his resignation, retirement, death or no longer competent (whichever is the earliest) before being dismissed, except for specific subject. Alibaba.com Corporation Ma has just one share, Alibaba.com Corporation management shareholders will continue to have the right to appoint at least one director.
The analysts said on ZDNet, as "financial investors" will not rush in though Yahoo Alibaba Group's daily operations, but was able to become the Yahoo Terms of Alibaba shares sold for more when the interests of the weight, especially the loss of control of the Alibaba Group management team will always face an uncertain risk.
Fuse: in charge of Yahoo's Jerry Yang to step down Bartz
Agreement scheduled for 2005, but Yahoo's a few years after the completion of investment seems to never worried about Jack Ma in 2010, these changes may exist. Even in 2007, Alibaba B2B market reporter at the conference, the face of the 2010 "Alibaba CEO Jack Ma will not be dismissed" when the terms expire how to do the problem, Ma is very confident in answering a reporter's question said: "I said before 2010, I promise I will in, so I wrote the book on the 2010 Ma will not leave, not after 2010, they pushed me out."
Clearly, the Ma of Alibaba Yahoo does not look to have control over very confident. According to Alibaba insiders, former Yahoo CEO Jerry Yang and Ma both good personal relationships, and Yang before the cooperation is to promote the capital, but such a relationship perhaps Alibaba Group believes that even in 2010, Yahoo has not exercised these provisions conferred rights.
But the incident because of the ouster of Yahoo's founder Jerry Yang, CEO Carol Bartz came to power the new generation turning point.
There were foreign media reports, Ma took office in early 2009, when Butts visit to the United States, Bartz face in front of Alibaba's management, accusing Yahoo China Ma did not do a good job.
In this case, Ma and his management team began to re-examine 39% of Yahoo shares to the company's uncertainty.
Yahoo's insistence lead to conflict
In order to avoid the crisis of control, Alibaba Group began brewing company to reduce its stake in Yahoo, but Yahoo has not been consent.
In May, the shareholders of Alibaba's B2B business meeting, Alibaba Group Chief Financial Officer Caichong Xin said publicly that Alibaba would like to buy back the stake held by the hands of Yahoo, Alibaba is not short of money, but Yahoo is not willing to sell.
Alibaba is also close to the informed sources said, had planned to lobby a number of Alibaba China state-owned banks buy back from Yahoo, Alibaba Group shares, the existing management team to ensure that the voice on the board will not be replaced by Yahoo.
But all none of any progress, Yahoo spokesman on September 12, said in an interview, will maintain 39 percent of Alibaba's shares unchanged.
This is the Alibaba Group and Yahoo recently deteriorated relationship between the direct cause.
Alibaba Group, a wholly-owned unlisted assets Taobao and Alipay valuable, investment bankers estimated $ 10 billion in Taobao, Alipay $ 5 billion. Investment bank believes that the market can not make accurate estimates of these two companies being unwilling to sell Yahoo shares of Alibaba Group, one of the reasons Yahoo's best exit time listed or later Taobao and Alipay.
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