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Edition: U.S. Article Comments (0) Interactive Follow Reuters Facebook Twitter RSS YouTube Read Miss California, a history buff, named Miss USA 1:36am EDT AIRSHOW-Paris jinx grounds planes but deals soar 19 Jun 2011 Europe delays decision on emergency loans to Greece 3:23am EDT Same-sex marriage goes down to legislative wire in New York 19 Jun 2011 "Very slow" live cruise show a hit 17 Jun 2011 Discussed 73 Republicans to debate, with Romney the frontrunner 48 Weiner tells friends he will resign: NY Times 44 IMF cuts U.S. growth forecast, warns of crisis Watched Paris air show takes off Sat, Jun 18 2011 Airbus' view of flying in the future Mon, Jun 13 2011 Greeks protest austerity measures Sat, Jun 18 2011 Softbank CEO sees Alipay agreement with Alibaba "soon" Tweet Share this Email Print Related News Alibaba to split, not IPO, e-commerce unit Taobao Thu, Jun 16 2011 Debt talks to speed up, taxes still a hurdle Thu, Jun 9 2011 UPDATE 3-Saab suspends output while it seeks parts and cash Thu, Jun 9 2011 Google reveals Gmail hacking, says likely from China Thu, Jun 2 2011 Alibaba's Ma offers Yahoo some advice: break up Wed, Jun 1 2011 Analysis & Opinion Tech wrap: Government bringing knife to cyber gun fight? Muni sweeps: Important deals for CA and NJ Related Topics Technology » Deals » Global Deals Data 2011 Q1 » Inflows Outflows » Media » China » Japan » Related Interactive Disaster in Japan Japan's Softbank Chief Executive Masayoshi Son delivers a keynote speech during the Global Green Growth Summit 2011 at a hotel in Seoul June 20, 2011. Credit: Reuters/Truth Leem By Hyunjoo Jin SEOUL | Mon Jun 20, 2011 12:46am EDT SEOUL (Reuters) - Softbank expects to reach an agreement "soon" with Alibaba Group over ownership of China's leading e-payment provider Alipay, the Japanese mobile carrier's CEO said on Monday. Alibaba Group, China's biggest e-commerce company, has been in negotiations with shareholders Yahoo Inc and Softbank over its transfer of Alipay, to a company owned by Alibaba founder Jack Ma. Yahoo and Alibaba Group reached an agreement last month, but the deal requires the consent of Masayoshi Son, Softbank CEO and an Alibaba board member, who has been reluctant to come to the negotiating table, according to sources. "We (Alibaba and Softbank) are good partners," Son told Reuters on a sideline of a business meeting in Seoul, adding he expected to reach an agreement on Alipay "soon." Softbank founder Son didn't elaborate on details of the talks with Alibaba. Still, his comments suggest a major step forward to the long-running dispute over the crown jewel of Alibaba and potentially a big win for its founder and chief executive Ma, who has described billionaire Son as "the most difficult person" to negotiate with. Yahoo owns 43 percent of Alibaba, while Softbank owns about a third. Yahoo's stake in Alibaba, along with its 35 percent ownership in Yahoo Japan, is considered the U.S. Internet firm's most valuable asset. Shares in Yahoo have lost around one fifth since Ma said in early May that he took full control of Alipay, an online commerce payment similar to eBay's PayPal. Alibaba has said it informed the board in 2009 that Alipay would be transferred and was in discussions about the matter for more than three years, but Yahoo claimed it had been blindsided by Alibaba's restructuring of Alipay. Softbank shares were unchanged on Monday, while Alibaba.com, the listed unit of Alibaba, rose 0.2 percent. TURBULENT RELATIONSHIP Yahoo and Alibaba's relationship has long been rocky. Observers say Yahoo has bristled at the way it has been sidelined on major decisions, while Ma's company has been rebuffed by Yahoo in attempts to buy back some of the U.S. company's invested stake. Some investors believe Yahoo's major assets in Asia could potentially be worth as much as Yahoo's entire current market value and are betting that an IPO by privately held Alibaba, or one of its subsidiaries, could boost Yahoo's valuation. Yahoo has said all parties in the negotiations agreed on basic principles, particularly to ensure that Alipay would continue to be a driving force behind auctions site Taobao and that the payments system would be among the first to win an operating license from the Chinese government. Alibaba said last week it has reorganized Taobao, China's largest e-commerce website, into three separate companies, squashing any chance of a Taobao public offering. Alibaba has wanted to buy back its stake from Yahoo and has tussled with Yahoo over the valuation of Taobao. (Writing by Miyoung Kim; Editing by Jacqueline Wong and Dhara Ranasinghe) Technology Deals Global Deals Data 2011 Q1 Inflows Outflows Media China Japan Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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