Tune into Bloomberg for the facts!
Yahoo is up over 2%. Investors believe Bloomberg.
Bloomberg got it right!
Bloomberg just confirmed that Alibaba Group did in fact hire Credit Suisse and Goldman as advisors for it's upcoming IPO.
This IPO will be announced before Jack Ma steps down on May 10.
What am I missing here? Why $3 to $4 billion? Seems to me I have heard a number up in the $80 to $100 billion range.
That's what Alibaba Group expects to raise not what the IPO will be valued at.
Bloomberg got it right and Alibaba looks stupid trying to deny it.