Jack Ma, who runs Alibaba, is seriously considering buying the troubled internet outfit Yahoo, and has been chatting with other potential buyers about options.
Ma told an audience at Stanford University that he would be “very interested in Yahoo” and not just the stake it owns in Alibaba.
He pointed out that he already had control of China and if he got his paws on Yahoo he could push his glorious online empire into one of the world’s most important internet markets.
Ma is thinking of pushing into the US anyway. He is going to spend next year in the United States learning more about the country and the market.
Ma will mostly be in the San Francisco Bay Area, but would travel across the country and continue his operational duties as chairman and CEO of the Alibaba Group.
Speaking at the China 2.0 conference at Stanford, Ma said about the only people he hadn’t talked over his cunning plans with were Yahoo.
However, he pointed out that he ran one of the few companies that really understands Yahoo USA very well.
Over the years the relationship between Yahoo and Alibaba became more strained than an elephant which has not had a drink for a couple of weeks. Ma tried to buy back Yahoo’s 40 percent stake in his company but was told to go forth and multiply by the forthright and soon to be fired Yahoo Chief Executive Carol Bartz.
Since then, Yahoo has received inquiries from multiple parties about “potential options,” but it could take months to decide its future. Yahoo’s board also has to find a permanent CEO.
Yahoo’s Jerry Yang said the company was not for sale, which caused many analysts to smirk visibly.
Ma couldn’t predict when a deal to acquire Yahoo might take place as there are so many interested parties.