Yahoo (NSDQ: YHOO) is finally moving into damage-control mode to preserve whatever good will there is left in its relationship with Alibaba, which it owns a 39 percent stake in. CEO Carol Bartz told Reuters earlier this week that Alibaba “constantly” approaches Yahoo about buying back its stake in the company but added that Yahoo didn’t want to sell. A day later, an Alibaba spokesman basically said that wasn’t true, telling the WSJ that Alibaba had made an offer and Yahoo had countered with its own. Now, Yahoo has put out a statement saying it won’t be saying anything more about the discussions.
The full statement:
“Our investment as a shareholder in Alibaba Group is strategic and a great one for our company and our shareholders,” said Carol Bartz, CEO, Yahoo! Inc. “As an investor, Yahoo! has no operational control in the Group and we’re very supportive of the operational direction Jack Ma and his team are taking the Group. Jack is clearly one of the most impressive entrepreneurs of our time. We are not going to comment on any private discussions we may or may not have with our strategic partners. As with all matters like this, any decisions regarding this investment would be driven by what will create the most value for our shareholders.”