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Yahoo, Alibaba: We're "Committed to" Negotiations

Yahoo, Alibaba: We're "Committed to" Negotiations

Write: Natalya [2011-05-20]

Yahoo and Alibaba have now released a joint statement, saying they are "engaged in and committed to productive negotiations."

The statement comes amid reported tensions among the two, after the selloff of Alibaba's Alipay program to its founder, Jack Ma.

Alipay is the online payment arm of Alibaba, which Yahoo! -- which owns 43-percent of the Chinese company -- says it wasn't consulted with when Alibaba made the transfer.

Jack Ma says the transfer is completely legal.

Alibaba says it has made the transfer of Alipay because of impending government rules here in China which may restrict ownership of online payment vehicles to foreigners.