SAN FRANCISCO (AP) — Published reports say Yahoo is exploring selling most of its holdings in Asia in an attempt to raise money and boost its sagging stock price.
The New York Times and The Wall Street Journal say Yahoo is mulling a complex proposal from China’s Alibaba Group and Softbank, controlling owner of Yahoo Japan. The online reports published Wednesday cited unnamed people familiar with the matter.
The Times says the deal would be valued at about $17 billion, or nearly $14 per share.
If Yahoo accepts the offer, its 42 percent stake in Alibaba would be trimmed to 15 percent. Yahoo would sell its entire 35 percent stake in Yahoo Japan.
Yahoo Inc. declined to comment.
The company has been exploring various options since firing Carol Bartz as CEO in September.