The Alibaba Group is trying to obtain a loan of $ 3 billion with plans to buy back its own share currently in ownership with Yahoo Inc. In order to collect the sum of $ 3 billion the company has reportedly intending to start negotiations with a few selected banks. The banks that are prepared to assist Alibaba Group includesANZ, Credit Suisse, DBS, Deutsche Bank, HSBC and Mizuho Corporate Bank.The Alibaba Group is refraining from providing any further information regarding its divestment move. The paid up capital of Yahoo Inc in Alibaba group amounts currently at $13 billion.
In the meantime, Yahoo executives including chairman Roy Bostock would need further time to evaluate this disinvestment policy enforced by the Alibaba Group, especially when Yahoo have just recently hired Scott Thompson as a new CEO for the company.Yahoo has been making constant effort to improve its struggling situation in Asia, including restructuring its current investments by selling out the unprofitable units. The Wall Street Journal reported that the act of disinvestment by Alibaba has been done mainly to delist Alibaba.com and list the parent firm, but analysts say that the suppositions may not be true as the move will prove to be very expensive for the company.
