Chinese e-commerce giant Alibaba has held preliminary meetings with representatives from the London Stock Exchange over a potential UK listing.
The online giant is considering listing $25 billion ($15 billion) worth of shares. Meetings over the possibility of accommodating the plan in London were held last week in Hong Kong with UK officials who there as part of Mayor of London Boris Johnson's visit to the city, said the Financial Times.
The Hong Kong exchange has already rejected the company on corporate governance grounds relating to the structure of its board and voting rights. Nasdaq and the New York Stock Exchange are understood to have said they would approve a listing of the company's shares, which would be the biggest since Facebook last year.
Yahoo wants to off-load its 24 per cent stake in Alibaba and, according to contracts, that must be done through Hong Kong or the US. However, it does not rule out a secondary listing in London, the FT said.
There is no formal timetable yet and no underwriters have been selected, a London-based Alibaba spokesperson told the Daily Telegraph newspaper.
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