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Yahoo buys US$1 billion stake in Alibaba

08/12/2005 11:02 EST (0148 GMT)

Alibaba.com founder Jack Ma(L) and Yahoo chief operating officer Daniel Rosensweig give a joint press conference to announce their deal in Beijing. Yahoo Inc. bought 40 percent of Alibaba.com for one billion USD cash while handing over the running of its China operations to the Chinese online retailer. []

Source: AFP

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