(Reuters) - Alibaba Group, China's largest e-commerce firm, said on Thursday it had made an offer to partially buy back Yahoo's stake in the company, but the offer was rejected.
"We made an offer that included a partial sale and a specific plan to maximise the value of their remaining stake," said Alibaba Group spokesman John Spelich.
"That offer was rejected, and they countered with a very different proposal, which we found unjustifiable, and we terminated the discussions," he said.
