Yahoo! Amends Share Repurchase Agreement With Alibaba - Quick Facts

(RTTNews) - Yahoo! Inc. (YHOO) Tuesday announced amendment to the previous repurchase agreement with Alibaba Group Holding Ltd., pursuant to which the maximum number of Alibaba shares that Yahoo can sell in connection with a qualified IPO of Alibaba, has been reduced from 261.5 million shares to 208 million shares.

As per the original amendment, Yahoo would sell up to 261.5 million of its 523.6 million ordinary shares of Alibaba, either directly to Alibaba Group or in the qualified IPO. After an IPO, Yahoo has the right to sell its remaining shares at its discretion.

"Yahoo has always believed in the long-term potential and value of Alibaba, and we are pleased to maintain a larger stake in the company's future," said Jacqueline D. Reses, Chief Development Officer of Yahoo and Alibaba board member.