AlibabaGroup has bought back 20 per cent of its stock from Yahooin a deal that values the Chinese ecommerce group at more than $40bn.
Alibaba, valued at $2.5bn when Yahoo first invested in 2005, is now worth more than twice as much as the struggling US internet company.
After agreeing a deal in May that Yahoo would sell half of its 40 per cent stake, Alibaba has paid the US group $7.6bn, paying with debt and equity raised from an international consortium of investors and its own cash.
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