Yahoo, Alibaba in "constructive" talks

SUNNYVALE, Calif. — Yahoo Inc., Japan's Softbank Corp. and Chinese Internet company Alibaba Group say they remain in "constructive" talks and have made "encouraging progress" toward compensating the two Alibaba shareholders for the loss of Web payment service Alipay.

Last month Yahoo jarred investors by informing them of an abrupt change affecting the value of its 43 percent stake in Alibaba, one of the leaders in China's rapidly growing Internet market. Alibaba had spun off Alipay in March into a separate company controlled by its CEO, Jack Ma, without giving Yahoo anything conversely.

Research conference previously this month

At a research conference previously this month, Ma said settlement talks between Alibaba, Yahoo and Softbank were complicated nevertheless that he was optimistic they would reach a deal. He denied accusations that he had in substance stolen the asset for his own benefit. Yet he has recommended that he would prefer to boost Chinese ownership of the company, especially since he disagrees with major shareholders on its direction.

Alibaba Group operates Yahoo's China arm, China Yahoo! It as well includes Alibaba.com, a major business-to-business e-commerce service, the retail site Taobao and Alibaba Cloud Computing, a developer of computing services.

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