Alibaba to woo Temasek to finance Yahoo stake buyback

China’s biggest e-commerce company is set to retrieve what it used to own in Yahoo but apparently needs Temasek to the rescue.

A Bloomberg report said, “Alibaba Group Holding Ltd. has talked with Singapore’s Temasek Holdings Pte about providing financing to buy out Yahoo! Inc.’s 40 percent stake, according to people familiar with the matter.”

Yahoo, according to the report, paid $1 billion together with its operations in China to acquire its holding in Alibaba in 2005.

"Temasek’s backing would aid Alibaba Group Chairman Jack Ma’s bid to gain more control of the company he founded and increase Temasek’s investments in China," noted the report.

View the report here.

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