Chinese e-commerce giant Alibaba Group Holding Ltd. is unlikely to be interested in buying Yahoo Inc.'s core business, the Wall Street Journal reported.

Yahoo's board, in a three-day meeting that started on Wednesday, is weighing a sale of the company's Internet business, Reuters reported on Tuesday, citing a person familiar with the matter.

Board members are also expected to discuss the details of the planned spinoff of Yahoo's 15 percent stake in Alibaba, worth more than $30 billion.

Alibaba will be interested in repurchasing its shares from Yahoo only at a steep discount, the WSJ said on Thursday, citing a person familiar with the matter.

Alibaba and Yahoo were not immediately available for comment.