Reuters: Technology News: Softbank CEO Son says 'very supportive' of Alibaba's partnership

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Softbank CEO Son says 'very supportive' of Alibaba's partnership Sep 27th 2013, 02:16 Tweet Share this Email Print Softbank Corp President Masayoshi Son speaks during a news conference in Tokyo July 30, 2013. Credit: Reuters/Issei Kato HONG KONG/TOKYO | Thu Sep 26, 2013 10:16pm EDT HONG KONG/TOKYO (Reuters) - Softbank Corp CEO Masayoshi Son said on Friday the company fully supports a partnership system in Chinese e-commerce giant Alibaba Group Holding Ltd. The group of 28 partners in Alibaba include the company's founder Jack Ma, some of Alibaba's senior managers and other insiders. Alibaba, which is preparing for an initial public offering valued at up to $15 billion, is looking to keep top management decisions within the partner group by giving it the right to nominate a majority of board members in the company. "Alibaba has built a phenomenal business and created tremendous value for its shareholders over the years," Son said in a statement. "We are therefore very supportive of the Alibaba partnership structure," he added. (Reporting by Elzio Barreto in Hong Kong and Mari Saito in Tokyo; Editing by Paul Tait) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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