Yahoo has agreed to sell half of its 40% stake in Chinese e-commerce group Alibaba for about $7.1bn (€5.5bn), securing a financial lifeline for the struggling US internet company.
The deal, announced today in the US, will see Alibaba Group buying back the stake from Yahoo for $6.3bn (€4.9bn) and up to $800m (€625m) of Alibaba preference shares.
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