SAN FRANCISCO Oct 15 Yahoo Inc has
agreed to reduce the maximum number of shares in Alibaba Group
Holding Ltd that it's required to sell when the
Chinese e-commerce giant goes public.
Under the terms of an amended agreement that Yahoo announced
on Tuesday, the U.S. Internet company will sell up to 208
million of the 523.6 million shares it owns in Alibaba, either
directly back to Alibaba or through the IPO. That's down from a
previously agreed maximum of 261.5 million.
After the IPO, which sources say could happen in 2014, Yahoo
would then have the right to sell its remaining Alibaba shares
at its discretion.