The Wall Street Journal reported that Yahoo Inc. is planning to sell of large chunks of its Asian assets, in an effort to give its investors some cash and begin to refocus on their core advertising business.

One of the major assets is Chinese e-commerce giant, Alibaba Group, which Yahoo owns a 40% stake of. The other notable Asian asset is Yahoo Japan, of which they own 35%. The total value of these assets is around USD$17-18 billion. The news sparked a share price rise of 6% or 88 cents to USD$15.99.

Rumours have circulated that Alibaba itself would buy back its shares from Yahoo. However, Alibaba CEO Jack Ma has apparently become more open to the possibility of Yahoo retaining a smaller percentage of Alibaba.

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Jason Lim

Jason is an Australian born Chinese living in Beijing, specializing in entrepreneurship, start-ups and the investment eco-system in China, especially in the tech and social area.