Alibaba-Led Group Said Ready to Bid for Yahoo

Wednesday, 30 Nov 2011 06:15 PM

 

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Alibaba Group Holding Ltd. and Softbank Corp. are in advanced talks with Blackstone Group LP and Bain Capital LLC about making a bid for all of Yahoo! Inc., said three people with knowledge of the matter.

The group has prepared financing for a possible bid, said one of the people, who declined to be identified because the discussions are private.

Alibaba hasn’t informed Yahoo of its bid and is still talking with other private-equity firms including Providence Equity Partners Inc. about teaming up for a potential offer, one person said. Alibaba prefers not to make a hostile bid for Yahoo and wants to be invited to make an offer for the entire company, the person said. The group may also decide not to make a bid, the person said.

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