SAN FRANCISCO (Reuters) - Yahoo Inc said that he has made significant progress to resolve a dispute on the unit of online payments of Alibaba Group, a firm of Chinese Internet search which the founder took control of the prized company.
Yahoo co-founder Jerry Yang and Chief Financial Officer Tim Morse flew to Asia week last group to thrash the issue with Alibaba, which is 43% owned by Yahoo. Another investor Alibaba, Softbank of the Japan, also attended the meeting.
The revelation of this month, Chinese partner of Yahoo had suddenly given Alipay - one of the jewels in the Crown of Alibaba - a company controlled by the founder of Alibaba Jack Ma sent to the United States fall of 12 per cent of the shares of the company.
"There are many moving parts, but we're making progress," Chief Executive Carol Bartz said investors at an annual analysts meeting Wednesday. "We will not enter a public back and forth".
Investor attention squarely on the Asian assets of Yahoo. Yahoo also owns 35 percent of Yahoo Japan Corp..
Yahoo and Alibaba sported a somewhat turbulent relationship. Observers say Yahoo has see the way it was set aside major decisions - surprise gesture of separating off Alipay being the most recent example - while Ma company was postponed by Yahoo in attempts to buy part of the game has invested company American.
Some investors believe that these assets may be valued as full current market much as value bet that an IPO by private Alibaba, or one of its subsidiaries, could stimulate the assessment of Yahoo and Yahoo. In the past, investors have also called for Yahoo to sell part of its investment and repurchase its own shares.
Yahoo stock has increased as much as 5.3%, or 85 cents, on Wednesday, but the end of the regular session of the trade up to a penny at 4 p.m. $15.
ALL ALIPAY, ALL THE TIME
Yahoo leaders spent the first 45 minutes of day annual analyst of the society address the situation of Alibaba before proceeding to planned event presentations on the Yahoo database strategy, Internet business based in the United States and its efforts to revive the stalled revenue growth.
Bartz, who joined Yahoo as CEO in 2009, said that the company had made progress in its efforts to revitalize the pioneer of the Internet.
"I know that this is a very popular to say that yahoo is not running." "But we have 14 000 people and a management team who works very, very hard to do", said Bartz. "I would place emphasis that you give us some credit for turning this company around," she later added.
Still, executives acknowledged that problems with a partnership with Microsoft were crimping revenue advertising research and weighing on the company's long-term financial objectives.
CFO Morse said that yahoo could achieve a range of growth in revenues of 7 to 10% target in 2012 and 2013, although he acknowledged that Yahoo was behind on its objective of achieving the target of this year growth rate.
The shortfall means that Yahoo is also not as much progress as provided to its target of 27 to 33% operating margins adjusted in 2013, even if the margins are developed in recent years.
Yahoo is one of the most popular destinations on the Web and provider no. 1 in online display ads, in the United States but the company faces increasing competition from the social networking service Facebook and pressure continues to research Google Inc. leader.
Morse also said the company is progressing with the project of "Unlocking the value" of its participation in the Japan, noting that Yahoo explored three scenarios: creation of a tracking stock, spinning off the coast of its investment and an unspecified "other" option.
Executives described the process as complex, echoing the current separate negotiations with Alibaba.
Alibaba said that the transfer of Alipay has been done to meet Chinese regulations regarding foreign ownership of online payment companies.
Yahoo leaders noted repeatedly times that all the parties in the agreement negotiations on the basic principles, including to ensure that the Alipay would continue to be a driving force behind the site of the Alibaba group - Alibaba asset auction key strategic - and that the payments system would be among the first to win a license of Chinese Government.
Bartz said also all agreed that the Alibaba Group - and therefore Yahoo - would receive adequate "compensation" for Alipay.
Feeling the pressure of the complaints that Yahoo was too slow in announcing the transfer of assets, Bartz said that its disclosure was "time timely and appropriate."
And she pointed out, with a hint of exasperation in his voice, that Yahoo has been truly seeks to solve the "problem" with its Asian assets.
"I would like that no more for you concentrate on Yahoo Inc...."We... because that is what this management team is working hard for, "she said analysts at the event.
"It is very difficult to come to a meeting and 50 minutes of it's Asian assets and 10 minutes is Oh yeah, what Yahoo is doing.".
(Other reports by Edwin Chan;) (Editing by Gerald e. McCormick, Tim Dobbyn, Bernard Orr and Steve Orlofsky)
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