29 Dec '11, 6pm

Yahoo Update: Alibaba Group Hires Powerful Lobbying Firm

Yahoo Update: Alibaba Group Hires Powerful Lobbying Firm

Although last week Yahoo was rumored to be considering selling its Alibaba Group holdings for a sum of $17 billion, the latest rumor indicates Alibaba Group may be considering purchasing all of Yahoo. Alibaba Group, which has now retained the powerful Washington D.C. lobbying firm Duberstein Group Inc., has expressed interest in a Yahoo deal ever since Carol Bartz was fired in early September. Duberstein Group, which specializes in cross-border mergers and acquisitions, is led by Kenneth Duberstein who was a chief of staff for Ronald Reagan. In addition to hiring Duberstein Group, Alibaba has also hired an acquisition and merger law firm Wachtell, Lipton, Rosen & Katz that specializes in international takeovers. During a visit to Stanford University in late October, Alibaba Group Chariman Jack Ma indicated that he was very interested in acquiring Yahoo: “We are very intere...

Full article: http://www.searchenginejournal.com/alibaba-group-hires-du...

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