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Alibaba Network Technology Development Co.， Ltd announced onAugust 11 that it has purchased all of the assets of Yahoo(China)with a price of US＄1 billion， including www.yahoo.com.cn， www.yisou.com， www. Ipai.com.cn. yahoo mail， etc. In the meantime， Alibabawill attain an exclusive using right of the globally advanced yahoo intemetbrand in China.

www. yahoo.com announced at the same time that the company has estab-lished strategic alliance relation with Alibaba(China). With an investment of USS1billion into Alibaba(China)， yahoo will become one of the shareholders of Alibaba.

The US＄1 billion will be availde to purchase Alibabd stakes from the stake holders.According to the agreement，Yahoo.com will attain 40%of Alibaba equitiesand 35%kf vofe rights and Yahoo will become the No.1stategic investor kf Alibabd.