Alibaba Eyes Yahoo

    The Yahoo! Inc. and Alibaba Group Holding LTD. websites are displayed on computer monitors for a photograph in New York, U.S., on Thursday, Dec. 1, 2011. Yahoo! Inc., the Internet company exploring strategic options, rose as much as 4.8 percent on the prospect of a bid from a group led by Alibaba Group Holding Ltd. Photographer: Jin Lee/Bloomberg via Getty Images

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    Could Yahoo go to China? The Chinese e-commerce company Alibaba recently hired a Washington lobbying firm as it contemplates a bid for the former Internet heavyweight. Yahoo currently owns a 40 percent stake in Alibaba, but it's considering cutting that share, as well as its stake in Yahoo Japan. Alibaba founder Jack Ma has previously said he’s interested in owning all of Yahoo, but such a move would likely come under scrutiny from the U.S. government; hence the lobbying firm, which is headed by Kenneth Duberstein, President Reagan’s former chief of staff.

    Read it at Reuters