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Alibaba Makes Bid For Yahoo, Hires Lobbying Firm

Alibaba Group wants to buy Yahoo, so the company hired Duberstein Group earlier this year to explore the potential transaction, according to Ian King. Duberstein is the lobbying firm of Kenneth Duberstein, former Reagan administration Secretary of Staff. Yahoo, which owns 40% of Alibaba, also continues to consider proposals by private-equity firms seeking to buy minority stakes. Alibaba said it is ready to buy back the percentage of the company Yahoo owns.

Read the whole story at Bloomberg BusinessWeek »

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