UPDATE: Silver Lake, DST Global of Russia, Chinese Private Equity Firm Yunfeng Capital, Leading $1.6B Tender Offer for 4% Alibaba Stake

A $1.6 billion tender offer for shares of Alibaba Group is underway by Silver Lake, DST Global and Yunfeng Capital, according to sources. The offer is for privately held employee and shareholder stock of the company. Shares owned by Yahoo, which holds a 39% stake in Alibaba, are not part of the tender offer.