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Yahoo Finds Over $7 Billion By Selling Stake In Alibaba
2012-05-21 08:06:57

US Internet pioneer Yahoo, which has been struggling with cash flow and market relevance, has agreed to sell its stake in China´s top e-commerce player, Alibaba, for at least $7.1 billion, the two companies announced this weekend. Negotiations have been a year in the making to get to this point and the transaction will come about in several stages, AFP reports. Yahoo´s interim CEO Ross Levinsohn said in a statement that the agreement will provide “clarity” for Yahoo...


Word of the Day
monteith
  • A large punch-bowl of the eighteenth century, usually of silver and with a movable rim, and decorated with flutings and a scalloped edge. It was also used for cooling and carrying wine-glasses.
  • A kind of cotton handkerchief having white spots on a colored ground, the spots being produced by a chemical which discharges the color.
This word is possibly named after Monteith (Monteigh), 'an eccentric 17th-century Scotsman who wore a cloak scalloped at the hem.'
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