Submitted by Fox First at Ten on September 18th
By The Associated Press
OPEN SESAME: Yahoo closed a $7.6 billion deal with Chinese Internet company Alibaba Group after more than two years of sometime prickly negotiations.
MAGIC CARPET RIDE: Alibaba will pay $7.1 billion for half of Yahoo's stake in the company and an additional $550 million under a revised technology and patent licensing agreement. Yahoo Inc. paid $1 billion to become one of Alibaba's major shareholders in 2005. The deal was announced in May, but wasn't completed until Tuesday.
TREASURE HAUL: After taxes, Yahoo Inc. expects to pocket $4.3 billion. About $3 billion of that will be spent buying back Yahoo shares.
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