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Edition: U.S. Article Comments (1) Deals Nasdaq, ICE pull NYSE bid, cite regulators Canada banks' TMX bid tops LSE LSE seen as bid target if TMX plan fails DuPont says $6.4 billion Danisco takeover in the bag Yahoo faces tough ride to resolve differences with Alibaba Glencore lifts mid-point of price range for IPO: source Wal-Mart could ditch Massmart bid over local supply Tognum backs Daimler, Rolls's new offer: sources BP in talks on TNK-BP buyout, other options: sources Follow Reuters Facebook Twitter RSS YouTube Read Strauss-Kahn lawyers see alibi in sex case: report 11:25am EDT Strauss-Kahn sex case throws open French election 11:25am EDT Analysis: Palestinian "Arab Spring" confronts Israel on borders 8:36am EDT Sex, lies and the reckless choices of the powerful 15 May 2011 Senator Kerry warns Pakistan on frayed U.S. ties | 11:41am EDT Discussed 132 Son says bin Laden sea burial demeans family: report 89 Texas county official says ”stupid” feds sparked fire 74 Israel-Palestinian violence erupts on three borders Watched Fire ants form rafts to defy floods Tue, Apr 26 2011 Strauss-Kahn shockwave hits France Sun, May 15 2011 Boot camp for rebels in Libya Sun, May 15 2011 Yahoo faces tough ride to iron out differences with Alibaba Tweet Share this By Melanie Lee SHANGHAI (Reuters) - Yahoo Inc and Alibaba Group will find it difficult to resolve their feud over the Chinese company's transfer of a major Internet asset, raising questions over how long its troubled marriage would last. Yahoo... Email Print Related News Wall Street's second weekly fall raises fear of retreat Fri, May 13 2011 Yahoo battle with China's Alibaba intensifies Fri, May 13 2011 Glencore to close books early on $11 billion IPO Fri, May 13 2011 UPDATE 1-Alipay transferred without board approval Thu, May 12 2011 Alibaba.com says Q1 net profit up 37 percent Thu, May 12 2011 Analysis & Opinion Tech wrap: Yahoo battle with Alibaba heats up Deals wrap: Big appetite for Glencore’s IPO Related Topics Technology Home » Deals » Global Deals Data 2011 Q1 » Inflows Outflows » Media » Stocks The Yahoo! offices are pictured in Santa Monica, California April 18, 2011. Yahoo! will report its quarterly results on Tuesday. Credit: Reuters/Mario Anzuoni By Melanie Lee SHANGHAI | Mon May 16, 2011 9:43am EDT SHANGHAI (Reuters) - Yahoo Inc and Alibaba Group will find it difficult to resolve their feud over the Chinese company's transfer of a major Internet asset, raising questions over how long its troubled marriage would last. Yahoo shares have fallen 11 percent since Tuesday when the U.S. Internet company said Alibaba had restructured Alipay, an online e-commerce payment system similar to eBay Inc's PayPal, to Alibaba Chief Executive Officer Jack Ma. Analysts said this reduced the value of Yahoo's 43 percent stake in Alibaba - considered one of its most valuable assets. After initially issuing contradictory statements, both companies said in a joint statement that they were in negotiations and were committed to resolving the dispute. However, analysts said the soured relationship between Alibaba and its major shareholder is a deep-rooted one and any attempts to improve ties will not be easy. "You will see more difficulties in communication and potential disagreements probably until the day Yahoo decides to sell back its stake in the company," said Mark Natkin, managing director of Marbridge Consulting. Yahoo said it was blindsided by the Alipay deal, while Alibaba countered that Yahoo was aware of the transaction by virtue of having a board seat, now held by former Yahoo Chief Executive Jerry Yang, who is also a Yahoo director. Yahoo and Alibaba have endured long simmering tensions since the departure of Yang from Yahoo. Alibaba has repeatedly said it wants to buyback Yahoo's stake in it, while Yahoo has said it is not keen on selling. Natkin said the dispute was unlikely to escalate further. "Yahoo has been in the China market long enough to know that it must be pragmatic in working together with the government and working long the government timeline," he said. "I feel a lawsuit won't be productive and won't put them in a favorable position with the government." On Saturday, Ma told a shareholders' meeting in Hong Kong that the move to spin-off Alipay was lawful and transparent, Bloomberg News reported. Alibaba Group owns Alibaba.com and China's largest e-commerce website with a consumer focus Taobao. The feud underscores the tense relationship between Ma and Carol Bartz, Yahoo's chief executive since January 2009. "For Carol (Bartz) the majority of the worth of Yahoo's shares come from Alibaba and yet she doesn't listen to Alibaba. So that's some of her fault as well, that she doesn't know what is happening in China," said Dick Wei, a Hong Kong-based analyst with JPMorgan. Alibaba said the board was informed in July 2009 that majority shareholding in Alipay had been transferred into Chinese ownership. The company said its move to restructure Alipay came as China was about to impose new regulations on online payment providers. China's central bank strengthened regulations last year governing third-party online payment systems requiring them to apply for a license. Japan's Softbank Corp also owns a stake in Alibaba. Four directors make up Alibaba's board, including Yang and Softbank founder Masayoshi Son. (Editing by Kazunori Takada and Anshuman Daga) Technology Home Deals Global Deals Data 2011 Q1 Inflows Outflows Media Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. 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. Comments (1) BiteRight wrote: As a majority shareholder in Alibaba, I wonder why Yahoo could not have named its own CEO but to leave everything to the Chinese counterpart. Yahoo was not worth that much as its directors first thought when they rejected Bill Gates. Microsoft is blessed not to have bought Yahoo two years ago and should no longer be interested. May 16, 2011 7:10am EDT -- Report as abuse See All Comments » Add Your Comment Social Stream (What's this?) © Copyright 2011 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Super Lawyers Attorney Rating Service Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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