SearchEngineUpdate with Vanessa Zamora - 03-19-2008 Part I
Abstract: 1. China's Alibaba Search Firm Looks For Buyers Amidst Possible Microsoft Yahoo Takeover, 2. Wireless Spectrum Auction Closed
Vanessa Zamora
Video Content Producer, SearchEngineWorld
4:55 pm on Mar. 19, 2008 (utc 0)
Transcript
Wednesday March 19, 2008
China's Alibaba Search Firm Looks For Buyers Amidst Possible Microsoft Yahoo Takeover
Preparing for the possibility that Microsoft might succeed at purchasing Yahoo, Alibaba, the Chinese Internet company that is 39% owned by Yahoo, is in advanced talks with investors to raise money making it possible to potentially buy back the multi-billion dollar stake. It’s believed that at the core of Alibaba’s move is the desire to keep Chinese management control of Alibaba, which is now led by founder Jack Ma. China’s government has also expressed concerns, pushing for Alibaba to maintain autonomy, which could be jeopardized if the Microsoft bid is met with success. The efforts might sour the deal for Microsoft, which would lose a foothold in an increasingly important market. Alibaba shares have surged as profit quadrupled and speculation that management would seek to defend its independence against Microsoft has grown. Meanwhile, Yahoo executives are in the process of meeting with Shareholders cross country to convince them that Yahoo is worth more than the $42 billion Microsoft takeover bid.
The wireless spectrum auction, started January 24th, has closed with the purchase of 700 megahertz of radio spectrum licenses for more than $19 billion, marking the most lucrative government auction in history. Broadcasters, which are converting to digital television from analog signals by early next year, will hand over some of the best remaining spectrum. In the coming days, the Federal Trade Commission is expected to publish a list of winning companies, with analysts predicting that AT&T or Verizon most likely bought the biggest chunks. Verizon is also most likely to have purchased a nationwide piece of the airwaves called the "C" block that attracted a $4.74 billion high bid, aligning Verizon to meet demand for an expected surge in consumer interest in wireless devices offering high-speed Internet.
4:55 pm on Mar. 19, 2008 (utc 0)