Feb. 22 (Bloomberg) -- Bloomberg's Emily Chang reports on Alibaba's offer of as much as $2.5 billion to privatize a listed unit and gain full control of China's Biggest e-commerce site. Ma is in separate negotiations with Yahoo! Inc. to buy the 40 percent stake the U.S. company owns in his closely held Alibaba Group. Gaining full control of Alibaba.com may help Ma reach an agreement with Yahoo. She spoke yesterday on Bloomberg Television's "Bloomberg West."