Alibaba to reach out to Yahoo CEO on stalled deal

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HONG KONG (AP) ? A person familiar with the talks says Alibaba Group and Japan’s Softbank will reach out to Yahoo Inc.’s chief executive, bypassing negotiators from the U.S. Internet company, after talks over Yahoo’s Asian holdings broke down.

The struggling Internet company has been in discussions to sell its stakes in Chinese e-commerce company Alibaba Group and Yahoo Japan back to Alibaba and Yahoo Japan shareholder Softbank Corp.

But the person who declined to be identified because the talks were confidential said Wednesday that Softbank and Alibaba will go directly to Yahoo CEO Scott Thompson for more clarity after talks broke down over the terms.

The person said Yahoo’s negotiating team seemed to have different ideas from the company’s leaders.