Yahoo! and Alibaba reportedly reach agreement on Alipay ownership

05/31/2011 | Wall Street Journal, The

Yahoo! and Alibaba Group reportedly resolved a dispute that began when the Chinese e-commerce company transferred ownership of its online-payment service, Alipay, to a company in which Yahoo! doesn't have a stake. Yahoo! owns about 40% of Alibaba. A source said part of the Alipay agreement is a promise that the ownership transfer won't hurt the value of Taobao, Alibaba's online marketplace.

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