{"id":9793,"date":"2011-07-28T18:07:09","date_gmt":"2011-07-28T18:07:09","guid":{"rendered":""},"modified":"2011-07-28T18:07:09","modified_gmt":"2011-07-28T18:07:09","slug":"-Yahoo-settles-dispute-with-Chinese-partner","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=9793","title":{"rendered":"Yahoo! settles dispute with Chinese partner"},"content":{"rendered":"

US Internet firm Yahoo! and Japan’s SoftBank said today they had reached agreement with their Chinese partners at Alibaba Group in a dispute over online payments platform Alipay.<\/strong><\/p>\n

Under the terms of the agreement, Alibaba Group, which is 43 percent owned by Yahoo!, <\/strong>will “continue to participate in Alipay’s future financial performance, including a future IPO or other liquidity event,” they said.<\/p>\n

Alibaba Group will receive no less than $2 billion and no more than $6 billion from an initial public offering or sale of Alipay<\/strong>, which is the payment platform of Alibaba Group, the companies said in a joint statement.<\/p>\n

Alipay will continue to provide payment-processing services to Alibaba Group and its Taobao marketplace, China’s top online retailer, they said.<\/p>\n

Alipay will also pay a royalty and software technology services fee to Alibaba Group made up of expense reimbursement and a 49.9 percent share of the consolidated pre-tax income of Alipay and its subsidiaries, they said.<\/p>\n

Alipay is currently only “marginally profitable,” according to company officials.<\/p>\n

Alibaba Group is one of the most prized assets of Yahoo! and the dispute had shaken the troubled US Internet company, which was a giant in the 1990s but now faces tough competition from Google and others and deep investor skepticism.<\/p>\n

The dispute became public knowledge in May when Yahoo! notified US regulators that ownership of Alipay had been shifted to a Chinese firm owned mostly by Alibaba chief executive Jack Ma.<\/strong><\/p>\n

The conflict had raised questions about Chinese corporate governance practices and the security of foreign investment in China.<\/p>\n

Yahoo! said the transfer was done without the knowledge or approval of Alibaba’s board of directors or shareholders, which also include SoftBank.<\/p>\n

But Ma has insisted that Yahoo! and SoftBank were informed of the transfer of ownership and it was done to comply with Chinese licensing regulations.<\/p>\n

Source AFP<\/em>
\n<\/p>\n","protected":false},"excerpt":{"rendered":"

US Internet firm Yahoo! and Japan’s SoftBank said today they had reached agreement with their Chinese partners at Alibaba Group<\/p>\n","protected":false},"author":1,"featured_media":72448,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[1],"tags":[],"class_list":["post-9793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"magazineBlocksPostFeaturedMedia":{"thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u-113x150.jpg","medium":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","medium_large":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","large":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","1536x1536":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","2048x2048":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-highlighted-post":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-featured-post-medium":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-featured-post-small":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u-113x90.jpg","colormag-featured-image":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-default-news":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u-113x150.jpg","colormag-featured-image-large":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-elementor-block-extra-large-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-elementor-grid-large-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-elementor-grid-small-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg","colormag-elementor-grid-medium-large-thumbnail":"https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg"},"magazineBlocksPostAuthor":{"name":"Admin","avatar":"https:\/\/secure.gravatar.com\/avatar\/53e6cdc30765aade0129f85e5aeb50124b1d3f5bb9a70373be31e4eb328371e0?s=96&d=mm&r=g"},"magazineBlocksPostCommentsNumber":"0","magazineBlocksPostExcerpt":"US Internet firm Yahoo! and Japan’s SoftBank said today they had reached agreement with their Chinese partners at Alibaba Group","magazineBlocksPostCategories":["News"],"magazineBlocksPostViewCount":128,"magazineBlocksPostReadTime":2,"magazine_blocks_featured_image_url":{"full":["https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg",113,170,false],"medium":["https:\/\/asiancemagazine.com\/wp-content\/uploads\/u.jpg",113,170,false],"thumbnail":["https:\/\/asiancemagazine.com\/wp-content\/uploads\/u-113x150.jpg",113,150,true]},"magazine_blocks_author":{"display_name":"Admin","author_link":"https:\/\/asiancemagazine.com\/?author=1"},"magazine_blocks_comment":0,"magazine_blocks_author_image":"https:\/\/secure.gravatar.com\/avatar\/53e6cdc30765aade0129f85e5aeb50124b1d3f5bb9a70373be31e4eb328371e0?s=96&d=mm&r=g","magazine_blocks_category":"News<\/a>","_links":{"self":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/9793","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9793"}],"version-history":[{"count":0,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/posts\/9793\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=\/wp\/v2\/media\/72448"}],"wp:attachment":[{"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/asiancemagazine.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}