Altaba planning to buy back 24% of shares using Alibaba stock

Friday 8 June 2018 | 14:22 CET | News
Altaba, the remaining holding company for Yahoo, has announced a programme to buy back nearly 24 percent of its own shares in exchange for around 100 million of its shares in Chinese e-commerce giant Alibaba. The former Yahoo said the tender offer for up to 195,000,000 of its shares would be valued at USD 83.35 a share and that it also plans to sell at least 10 million Alibaba ADSs to pay taxes related to the offer. Upon completion of the programme, Altaba said it expects to own around 11 percent of Alibaba. The tender offer expires on 11 July.

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Categories: Internet
Companies: Alibaba / Altaba / Yahoo
Countries: United States
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