Alibaba Group Holding Ltd. Chairman
Jack Ma said the spinoff of the Alipay online payment business
is “lawful” and “transparent,” after biggest shareholder
Yahoo! Inc. claimed it wasn’t consulted on the transfer.“We are always committed to ensure our operations are 100
percent lawful,” Ma said today in Hong Kong. “The matter of
Alipay is not settled yet” amid ongoing negotiations with Yahoo
and Softbank Corp. (9984), Alibaba’s second-biggest shareholder, on the
post-transfer commercial arrangements, Ma said.

Yahoo Inc. and Alibaba Group released a joint statement saying they are
engaged in "productive negotiations" over online payment service Alipay.
The two tech giants are aiming to present a united front as their
relationship strains, though they gave few details on how negotiations
are progressing.