Yahoo to sell back half of its Alibaba stake for $7.1 billion, more in the latter's future IPO

It's been a bit of a sour year for Yahoo - it's seen the departure of one of its founding fathers, suffered through a patent dispute with Facebook and lost its new CEO in a sea of scandalous accusations. Yikes. At least former head honcho Scott Thompson's negotiations to sell the firm's stake in Alibaba seem to be going through - the two firms just announced plans to redistribute about half of Yahoo's 40-percent stake in said Chinese tech giant. Under the current agreement, Alibaba will purchase 20-percent of its fully diluted shares back from the Silicon Valley company, netting Yahoo $7.1 billion in compensation.

Engadget, Yahoo to sell back half of its Alibaba stake for $7.1 billion, more in the latter's future IPO