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Yahoo cashes in Chinese stake

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Yahoo cashes in Chinese stake

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Yahoo is selling half of its 40% stake in the dominant Chinese e-retailer Alibaba back to its founder, Jack Ma, for just over five and a half billion euros. Yahoo bought its holding in Alibaba in 2005 for 780 million euros, and it was considered as one of the jewels in the crown of the troubled US internet portal. Most of the sale proceeds will be returned to shareholders.