Wednesday December 09, 2015

Yahoo Shelves Plan To Spin Off Alibaba Stake

According to Reuters, Yahoo has scrapped its plan to spin off its stake in Alibaba. Instead, the company has plans to create a new publicly traded company that will house its internet business and its stake in Yahoo Japan.

Yahoo Inc said on Wednesday it had shelved plans to spin off its stake in Chinese e-commerce giant Alibaba Group Holding Ltd, citing tax concerns, and will instead create a separate company to hold the rest of its assets. Yahoo had intended to spin off its Alibaba stake, worth more than $30 billion, by January.