Yahoo Decline Hits Internet ETFs | Page 2 of 2 | ETF Trends

Yahoo in the filing earlier this week said the Chinese online-payment business was restructured so that 100% of its outstanding shares are held by a Chinese domestic company which is majority owned by Alibaba Group’s chief executive.

China’s Alibaba Group said it told its board in July 2009 that it had transferred ownership of its online e-commerce business to CEO Jack Ma, rejecting Yahoo’s allegations that it had been blindsided by the deal, Reuters reported Friday.

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