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The Boston Globe

Business

China fund may add $2b to finance Alibaba share buyback

The China Investment Corp. is in advanced talks to add as much as $2 billion into the Alibaba Group to hlep finance the Internet company’s efforts to buy back a stake from Yahoo, a person briefed on the matter said Thursday.

The Chinese Investment Corp., known as CIC, a $200 billion Chinese sovereign wealth fund, is one of several potential partners from whom Alibaba would raise money to pay for the stake repurchase. On Sunday, Alibaba announced a long-awaited deal to buy back half of Yahoo’s 40 percent stake in the company for $7.1 billion.

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