Alibaba Group Holding Ltd. founder Jack Ma said China’s biggest e-commerce provider is prepared to sell a stake to sovereign wealth firms to fund its buyback of shares from Yahoo! Inc.
Temasek is already an investor in Alibaba, which last month agreed to buy a 20 percent stake in itself from Yahoo for $7.1 billion ahead of an initial public offering.
“You need to have some guy with deep pockets,” Ma said. “I want to make sure it has healthy corporate governance. I don’t want another big guy coming here. Five years later, 10 years later, the next generation of leadership cannot stand the pressure from shareholders.” Full story
