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Alibaba Group has hired Duberstein Group, the Washington lobbying company, in the latest sign that the Chinese internet group is considering a bid for the whole of Yahoo, if talks to buy back the US rival’s Asian assets fall through.
Japan’s Softbank, which has a 30 per cent stake in Alibaba and jointly owns Yahoo Japan, is also named in a US congressional filing made by Duberstein earlier this month.
Alibaba and Softbank, Yahoo’s partners in Asia, offered in October to buy back the US company’s 40 per cent in Alibaba and 35 per cent in Yahoo Japan. The troubled internet company’s investments in Alibaba and Yahoo Japan are considered to be by far its most valuable assets, accounting for the bulk of the company’s $20bn valuation.
Full story: Alibaba hires lobbyists amid Yahoo bid talk