On August 11, 2005, BusinessWeek cited the article by Joe McDonald for
the Associated Press in Beijing that Yahoo Inc. is paying US$1 billion
in cash for 40% stake in Alibaba.com, China's biggest online commerce
firm.
Read the article in
http://www.businessweek.com/ap/financialnews/D8BTQODG0.htm
An outline of the article:
* Yahoo said it will merge its China subsidiaries into
Alibaba.
* ****ter Erisman, Alibaba's vice president for international
relations, said "this is really probably the knockout
blow for eBay in China."
* eBay CEO Meg Whitman predicted China will become the
company's biggest market in 5 years.
* The Chinese government says the country has 103 million
people online, second only to the United States.
