China’s largest e-commerce firm Alibaba Group said on Thursday that it made an offer to partly buy back Yahoo’s (YHOO.NASDAQ) 40% stake, but the proposal was rejected, Reuters reported. Alibaba’s offer included a partial sale and a plan to maximize the value of Yahoo’s remaining stake, Alibaba Group spokesman John Spelich said in a statement. However, Yahoo rejected the offer and countered with a different proposal "which we found unjustifiable," Spelich said. Discussions have since been terminated.
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