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See the best of Reuters photography. See more | Photo caption Maxim Hot 100 The world's most beautiful women as chosen by Maxim readers. Slideshow Afghan army recruit A look at an Afghan recruit as he goes through the process of joining the Afghan National Army. Slideshow China's CIC eyes up to $2 billion stake in Alibaba Group: sources Tweet Share this Email Print Related News Yahoo under Levinsohn seen shifting to content, advertising Tue, May 22 2012 Wall Street rebounds, but investors dump Facebook Mon, May 21 2012 Yahoo clears a hurdle, sells Alibaba stake for $7.1 billion Mon, May 21 2012 UPDATE 5-Alibaba buys back stake held by Yahoo for $7.1 bln Mon, May 21 2012 Yahoo investors applaud change, fear limbo Mon, May 14 2012 Analysis & Opinion Essential reading: Renouncing U.S. citizenship to save on taxes, and more Dark clouds in the Golden State Related Topics Tech » Media » China » An employee walks past a wall painted with the logo of Alibaba (China) Technology Co. Ltd at its headquarters office on the outskirts of Hangzhou, Zhejiang province May 21, 2012. Credit: Reuters/Steven Shi By Stephen Aldred and Prakash Chakravarti HONG KONG | Thu May 24, 2012 7:13am EDT HONG KONG (Reuters) - Sovereign wealth fund China Investment Corp (CIC) is in advanced talks to buy an up to $2 billion stake in Alibaba Group, sources told Reuters, as the Chinese e-commerce powerhouse looks to secure the last of the funding it needs to buy back part of its stake from Yahoo Inc. The involvement of CIC, China's giant sovereign wealth fund which manages around $410 billion in assets, underlines the significance of the deal Alibaba has struck with Yahoo, which returns voting control back to founder Jack Ma. It also emphasises the potential value of the company. Bankers said Alibaba Group could have a value of about $100 billion over the next 3 to 4 years, and incentives in the deal encourage Alibaba to list by 2015. That IPO exit is attracting investors to the company. Yahoo and Alibaba struck a deal last week whereby the Chinese company agreed to buy back up to half of the 40 percent stake in itself held by Yahoo for $7.1 billion, valuing Alibaba at $35 billion. Alibaba is raising $4.6 billion of that target through an issue of preferred shares, bank loans and the sale of a stake to existing shareholders - Singapore state investor Temasek Holdings Pvt Ltd and DST Global. Another $2.5 billion in cash would allow Alibaba to fund the full $7.1 billion purchase. Sources with direct knowledge of the matter said CIC's $2 billion purchase of the Alibaba stake would help the e-commerce company complete its funding for the Yahoo purchase. Alibaba is also in talks with private equity firms that would assist in funding the remaining $500 million, sources said, including Bain Capital, Blackstone Group LP, and Hony Capital. Under the deal, Sunnyvale, California-based Yahoo and fellow investor Softbank Corp of Japan agreed to cap their voting rights in Alibaba at below 50 percent. Limiting outside ownership was a major motivation for Alibaba Chief Executive Jack Ma, a person close to Ma said. In a round of talks that collapsed in February, Yahoo had tried to work out a complex spin-off of Alibaba assets that wouldn't trigger a big tax bill. But that deal foundered on how much value to assign Alibaba's Taobao retail operation and on how U.S. tax authorities would treat the maneuver. Taobao, Alibaba's crown jewel and virtual cash machine, accounted for almost two-thirds of $2.8 billion group revenue in 2011. But it has come under fire over fake items sold on its platform, and was last year placed on the United States Trade Representative's (USTR) notorious markets blacklist for offering a wide range of goods that infringed copyrights. The sources declined to be named because the discussions were private. Alibaba, Blackstone, CIC and Hony all declined comment. Bain could not immediately be reached for comment. (Reporting by Stephen Aldred and Prakash Chakravarti; Additional reporting by Nadia Damouni in NEW YORK, Chyen-Yee Lee in HONG KONG and Gui Qing Koh in BEIJING; Editing by Denny Thomas, Michael Flaherty and Jonathan Thatcher) Tech Media China 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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