Alibaba Throws Money at Yahoo!

There was news overnight that Chinese e-commerce site Alibaba Group has secured up to $9 billion in debt financing from nine different banks. According Bloomberg, the purpose of the new debt is to refinance other debt to pay Yahoo! (YHOO) for its preferred shares and for general corporate purposes. To me, this new debt is all about paying Yahoo!

It's true that Alibaba wants to buy back preferred shares Internet pioneer owns in Alibaba. This has largely been ignored by most Yahoo! watchers, but it could lead to another $1 billion (pretax) for additional Yahoo! stock buybacks....328 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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