Struggling Internet company Yahoo Inc. has agreed to sell half of its 40% stakein Chinese e-commerce group Alibaba for about $7.1 billion.
The deal, announced late Sunday in the U.S., will see Alibaba Group buying back the stake from Yahoo Inc.for $6.3 billion in cash and up to $800 million of Alibaba preferenceshares.
preference shares：优先股;(享有优先权的)优先股票
The announcement caps at least a year of on-and-off talks as Yahoo has tried to sell its stake. Money from the sale might help Yahooappeaseshareholders by giving it the ability to pay dividends, make acquisitionsor buy back its own shares.
on-and-off:断断续续;间歇的
The companies also have an agreement for Yahoo to sell the remainder of its Alibaba stake in stages later.
in stages：分阶段的;分级的
Yahoo'sinterimchief executive, Ross Levinsohn, said in a statement that the agreement provided "clarity"for Yahoo shareholders.
A person with knowledge of the deal said there were incentives built into the transaction that would make it attractive for Alibaba Group to hold an initial public offering by the end of 2015.
The person, who spoke on the condition of anonymitybecause the person was not authorized to discuss the details, said there was no timing or formal commitment for an IPO.
Alibaba Group is in the process of privatizing its Hong Kong listed unit.
in the process of:在……的过程中
Alibaba Chairman and Chief Executive Jack Ma said the deal established a "balanced ownership structure that enables Alibaba to take our business to the next level as a public company in the future."
（责任编辑:admin）
