Courtesy of Karl Denninger at The Market Ticker
How long before people learn the lesson?
“To expedite obtaining an essential regulatory license, the ownership of Alibaba Group’s online payment business, Alipay, was restructured so that 100 percent of its outstanding shares are held by a Chinese domestic company which is majority owned by Alibaba Group’s chief executive officer,” the company said in the filing. “Alibaba Group’s management and its principal shareholders, Yahoo! and Softbank Corporation, are engaged in ongoing discussions regarding the terms of the restructuring and the appropriate commercial arrangements related to the online payment business.”
Sounds kinda like Fellowes.
So what sort of premium did Yahoo have based on the idea that it held a significant competitor to PayPal but in China, with a huge user base?
Well, whatever that premium was, you’d be wise to write it off right here and now, because….
Got it yet? No?
Well, if you didn’t learn it before today 7.5% of your Yahoo money is…….. GONE!
