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Published On: Wed, Sep 19th, 2012

Yahoo sells shares back to Alibaba for $7.1billion

NEW YORK,  NEW YORK: According to SEC documents filed this week, Yahoo Inc, currently ran by Marissa Mayer has unanimously decided to return $3billion to shareholders after selling half of its shares in Chinese company Alibaba for $7.1billion.

That includes a one time payment of $6.3billion in cash, and $800million in so-called ‘preference shares’ from Alibaba to buy back its stock — providing a much needed cash injection for Yahoo.