Chinese e-commerce giant Alibaba Group is nearing the close of an investment round designed to reduce Yahoo's equity in its operation, according to a new report.
The company is closing in on its $8 billion investment goal, according to The New York Times, citing sources. The news outlet says the funds are being raised from a host of sources, including hedge funds, mutual funds, and private equity firms. The company will sell preferred and common shares in the transactions, and will borrow about $4 billion, the Times says.
Alibaba and Yahoo entered into an agreement in May that prompted … Read more