Alibaba's Ma: Softbank Proposes VIE for Alipay Solution

(Beijing) –Softbank has become steeled in its position over settlement negotiations for the online payment service Alipay, Jack Ma, Chairman and CEO of China's largest e-commerce company Alibaba Group, said at a press conference on June 14.

Ma said talks with Jerry Yang have gone smoothly, there is recognition that Alipay had to conform to China's regulatory environment.