There are media speculations that Blackstone Group and Bain Capital are mulling the option to buy Yahoo Inc for about $25 billion. However, there is no confirmation yet from any of the sides. It has also been said that the duo would be approaching Asian partners, including China’s Alibaba Group and Japan’s Softbank Corp, to make a bid for the same.
For long, the share of the company had been stable at $20 per share, and if this figures is quoted, then the worth of the deal is somewhat closer to $25 billion.
It has been known that Chinese e-commerce giant Alibaba has long been trying to buy back a 40% stake gained by Yahoo, but will it go for this bid is yet not known. The company which has been battling tough competition from Google Inc. and Facebook in growing Internet ad market has been going through rough patch off lately.
“Alibaba Group has not made a decision to be part of a whole company bid for Yahoo”, said Alibaba Group spokesman, John Spelich, when asked about the media reports.
It has been known that the company had been mooting on this option since the time the Internet Company booted out its CEO Carol Bartz. So far, none of the directors have come out to confirm on any such option, Tim Morse, Yahoo’s chief financial officer, has been handling the responsibilities of the CEO. There are possibilities that new CEO is roped in for the same position.
There are others like Silver Lake Partners, Providence Equity Partners and Kohlberg Kravis Roberts & Co who are trying to get hand on the stake of the company. While the news has certainly raised hopes of the investors, shares of the company moved up by 6% $16.72 in extended trading.
As an attempt to save the United Kingdom from the continuously increasing threat of cyber crime the Cabinet Office Minister, Francis Maude, has announced some plans yesterday. In addition, the minister notified to open a latest Joint Cyber Unit at the Government’s GCHQ eavesdropping centre as an attempt to widen the country’s military capability in cyberspace as well.
The move is believed to have a significant influence from the biggest threat of Chinese “cyber warriors” where a group of notorious hackers in the Chinese army is alleged to steal millions of pounds of industrial secrets from several European companies.
Consequently, on Friday, the minister has revealed the newly outlined cyber security strategy. Under the spell of the move some top secret technologies created at the government’s giant eavesdropping centre GCHQ are entitled to be offered to private industries.
“Up until now, some of the clever things that have been developed have just sat on a shelf. GCHQ may not know how to use it, but private companies may be able to”, notified a Whitehall source while insisting for the need of feasible environment. In addition, the source has notified that the GCHQ will be serving as a clearing house for any acknowledged information.
Sources have confirmed that the authorities have invested more than £650m for establishing the police cyber crime unit and expressed confidence that the move will surely play a key role to minimize the cases of criminal gangs, hostile states, and terrorist attacks as well as other anti-social activities.
Mr. Maude notified that the suggested cyber crime unit will be starting to perform its operations soon, most probably by 2013, and will be acting as a part of the National Crime Agency. Further, he notified plans that can enable the police to make best use of existing powers.