NEW YORK- Yahoo! and Alibaba company of e-commerce Chinese said that they held talks on Alipay, the online payments company whose property sparked tensions between the giants of the Internet.
Yahoo!, which holds a significant stake in Alibaba and Alibaba published a joint statement of a sentence discuss the controversy over the possession of Alipay, Alibaba payment service.
"" Alibaba group and its principal shareholders of Yahoo! Inc. and Softbank Corporation, are engaged in and committed to productive negotiations to resolve outstanding issues Alipay in a manner that serves the interests of all shareholders as soon as possible "said the statement."
Yahoo! filed paperwork notifying the US Securities and Exchange Commission that Alipay property has been moved to a Chinese company owned primarily by the CEO of Alibaba Jack Ma last week.
In the filing, Yahoo! stated that the transfer was made without the knowledge or approval of the Council of the Alibaba of directors or shareholders. Yahoo! holds a participation of 43 per cent in Alibaba and a share of 40 per cent of the Alipay.
According to Yahoo!, the transfer of property was done in August but he and Softbank of the Japan, another major stakeholder of Alibaba, were informed only in March.
My Saturday, said that the transfer of ownership of Alipay was "legal and 100% transparent."
"The Board and shareholders including Yahoo! and Softbank Corp. are fully aware of the transfer of ownership of Alipay," Ma was quoted as saying by Dow Jones Newswires.
His comments come after the company issued a statement Friday, saying that the transfer has been done to "conform with Chinese legislation on payment companies to obtain a license to continue." to operate Alipay
"Measures taken by the leadership of Alibaba group comply with the licensing regulations and ensure the continuation of the operation are in the best interests of the company and its shareholders," said the statement.
Actions Yahoo! were sliding in the dispute with Alibaba on Alipay.
Actions Yahoo! lose 3.61% to close at $16.55 on Wall Street Friday.
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