YHOO: Yahoo rallies as U.S. Alibaba IPO filing reportedly draws closer

Yahoo rallies as U.S. Alibaba IPO filing reportedly draws closer • 12:58 PM

• With Alibaba apparently set to list in the U.S. following a breakdown in talks with Hong Kong regulators, 24% owner Yahoo (YHOO +4.6%) is adding to its 2013 gains, and in doing so hitting levels last seen in '07.
• Reuters reports Alibaba "has engaged U.S. law firms to start working on its IPO and will soon be hiring banks to manage the listing."
• Alibaba's very strong Q1 numbers, together with the huge rallies seen this year in high-growth Chinese and U.S. Internet names, has fueled hopes of a post-IPO valuation soundly above $100B.
• 35% Alibaba owner SoftBank (SFTBF.PK) rose 4% overnight in Tokyo.
• Previous: ABR assigns Alibaba a $100B post-IPO valuation

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