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Alibaba CEO Says He Wants To Buy Yahoo

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Alibaba CEO Says He Wants To Buy Yahoo

Business

Alibaba CEO Says He Wants To Buy Yahoo

Alibaba CEO Says He Wants To Buy Yahoo

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Several days ago at Stanford University, a Chinese executive said he was "very interested in Yahoo." Jack Ma runs a giant e-commerce website in China called Alibaba. Six years ago, Yahoo bought a 40 percent stake in Alibaba, and is the biggest investor in the Chinese site. But Yahoo fortunes have waned, making it takeover target.

DAVID GREENE, host: And our last word in business today is talk of a transpacific takeover. A few days ago at Stanford University, a Chinese executive said he was very interested in Yahoo.

LYNN NEARY, host: As in buying Yahoo. The executive was Jack Ma. He runs a giant e-commerce website in China called Alibaba, and he knows Yahoo well. Six years ago, Yahoo bought a 40 percent stake in Alibaba, and is now the biggest investor in the Chinese site.

GREENE: But Yahoo's fortunes have waned, making it takeover target. Privacy watchdogs are already raising concerns about the dangers of a Chinese company owning the American Internet giant.

(SOUNDBITE OF MUSIC)

GREENE: And that is the business news on MORNING EDITION, from NPR News. I'm David Greene.

NEARY: And I'm Lynn Neary.

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