Yahoo sells $147 million of stock in Alibaba.com

Yahoo sells shares it bought in the IPO slightly ahead of a lockup expiry, realising a profit of just over 46%.

Yahoo last night raised $147 million from the sale of a block of shares in Hong Kong-listed Alibaba.com. Surprisingly, the deal came only four trading days after the company's founding chairman, Jack Ma, sold about $35 million worth of stock, causing a slide in the share price that it has yet to recover from in full.

And given that Yahoo is deemed to be a controlling shareholder in the company by virtue of its large shareholding in parent company Alibaba...

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