Yahoo meddling in another company's management

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Fri Sep 27, 2013 3:09am EDT

(Reuters) - Yahoo Inc joined Japan's SoftBank Corp on Friday in backing Alibaba Group Holding Ltd's planned partnership structure.

The U.S. Internet company, Alibaba's second-largest shareholder with a 24 percent stake, said it's important for technology companies to be able to preserve their culture and strategy.

"As one of Alibaba's largest shareholders, Yahoo believes that management's efforts reflect the desire to govern the company for long-term success while also balancing the rights of shareholders," Jacqueline Reses, chief development officer of Yahoo and a member of Alibaba's board of directors, said in a statement.

http://www.reuters.com/article/2013/09/27/us-alibaba-ipo-yahoo-idUSBRE98Q08J20130927