YAHOO

yesterday announced the Alibaba second quarter performance is not outstanding, unexpectedly bright, revenue growth of 61% to $1 billion 740 million, net profit rose 159% to $707 million. Maintain the rapid growth of the performance of Alibaba, is now the focus of the parties to protect the object. Once before IPO growth slowed sharply, will pose a major threat to YAHOO and Softbank in local shares, so everyone dare not let down.

however, very surprisingly, growth performance in bright background, Alibaba and YAHOO has signed a treaty to reduce the sale of shares to the Alibaba after the listing of YAHOO group shares from 261 million 500 thousand shares reduced to 208 million shares. Overseas analysts just jumped out of the issue of the views expressed that this is the value of YAHOO’s long-term bullish Ali, the current management has full confidence, etc.. But I think the truth is not so rich multicolored decorations and can not cover the packaging and decoration, Ali suffered a major setback in the IPO process in fact.

had signed a repurchase agreement with YAHOO Ali, apparently after a long game, the two sides collapse caused by the breakup of the product. YAHOO sold to Ali’s 21% shares with the cash, the money is not Alibaba loans to its own funds, Ali for the introduction of a number of public shareholders, and subsequently launched a high borrowing, and YAHOO break the position known to all. While YAHOO and Alibaba signed after the listing of Alibaba has the right to repurchase the remaining shares in YAHOO 50% of the agreement, as a condition of YAHOO Ali in cash to repurchase shares at first, not to say that YAHOO wants to sell not sell things, but in order to reduce the requirement for Ali stake in YAHOO and YAHOO to put forward.

of course, YAHOO for the rigid requirements to Ali made what conditions, Ali to YAHOO promised what information not publicly available, but one thing is for sure, YAHOO holds 261 million 500 thousand shares, is already stipulated in good agreement, YAHOO has no right to unilaterally amend the agreement, unless Ali on YAHOO some promise failed, YAHOO claims punitive agreed terms, only after the listing of the shares sold to reduce produce Ali this supplementary agreement.

What is

the promise? A few days ago, Ali game integrated with the HKEx listing generated, this commitment is likely to be listed in the 4 quarter of this year or the 1 quarter of next year, if the market fails at this point in time, YAHOO will reduce the future after the listing sold to Alibaba shares. Ali from a few days ago to give up the public statement of Hongkong, Ali is unlikely to be listed in the first quarter of next year. If this is not defeated, YAHOO is so optimistic about the prospects for the development of Ali, to modify the agreement, it is a lie.

Ali’s commitment to YAHOO, is likely to be implemented in phases, to which stage failed to practice commitments, YAHOO also set the appropriate terms to restrict. Since Ali always want to take back the stake in YAHOO, YAHOO will also put forward conditions, they have been on the Ali >