Yahoo Inc. and Alibaba Group made a statement on Sunday that they are negotiating to resolve differences over the spin-off of Alibaba’s online payment business Alipay.

A Chinese ecommerce giant Alibaba and major stockholders Yahoo and Softbank Corp. are in talks “to resolve the outstanding issues related to online payment system Alipay in a manner that serves the interests of all shareholders as soon as possible,” the statement said.

Earlier last week search engine company Yahoo said it was not told until March 31 about the August 2010 transfer of Alipay, China’s largest online payment system.