Yahoo tipped to sell Asia business
According to a Reuters report, the news has driven its shares up. The Yahoo board, however, is still uninterested in the sale of the entire company.
When contacted by Marketing, a Yahoo spokesperson said: "We do not comment on rumour and speculation and at this time we do not have any statement."
Yahoo shares reversed its downward course and ended the session almost 6% higher at $15.99 on Wednesday.
Alibaba chief Jack Ma has expressed interest on several occasions that he would like to buy back Yahoo's stake in his company, and buy over all of Yahoo in turn.
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