Alibaba Seeks Backing for Yahoo Deal

China’s Alibaba Group has talked with Temasek Holdings about providing financing to buy the 40% stake in itself held by Yahoo Inc., Reuters reported, citing Bloomberg. Temasek is a state-owned Singapore investment company. Temasek is a shareholder in Alibaba Group.

(Reuters) – China’s Alibaba Group Holding Ltd has talked with Temasek Holdings Pte about providing financing to buy the 40 percent stake in itself held by Yahoo Inc , Bloomberg said, citing people familiar with the matter.

Singapore’s Temasek, a state-owned investment company, may help fund an offer in return for a bigger share of privately-owned Alibaba Group, the agency said.

However, Temasek is not interested in owning Yahoo, one person told the agency.

Both Alibaba and Temasek declined comment to Reuters.

Temasek is a shareholder in Alibaba Group.

Jack Ma, the chief executive officer of Chinese e-commerce group Alibaba, said last month he would be “very interested” in buying Yahoo, a deal that could help the former English school teacher expand into the U.S. Alibaba is being advised by UBS.

Jerry Yang, co-founder and former CEO of Yahoo is interested in a deal with private equity firms that would take the $20 billion company, off public markets, people familiar with the situation told Reuters.