Yahoo’s Talks To Sell Asian Assets Fall Apart
SUNNYVALE (CBS/AP) – Yahoo’s negotiations to sell most of its Asian holdings have abruptly broken down in a disagreement over the sales price and the best way to get the complex deal done.
A person familiar with the matter confirmed the impasse Tuesday. The person spoke on condition of anonymity because Yahoo’s efforts to sell its stakes in China’s Alibaba Group and Yahoo Japan are confidential.
All Things D, a technology blog affiliated with The Wall Street Journal, reported earlier that the talks had collapsed. It’s the latest twist in the drama that has been swirling around Yahoo Inc. since the troubled Internet company fired Carol Bartz as CEO five months ago.
Since the start of the year, Yahoo has hired Scott Thompson as CEO and announced the departures of five board members.
(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)