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Yahoo to drop Alibaba stake spinoff due to tax risk - report

Wednesday 9 December 2015 | 09:18 CET | News
Yahoo will drop its plan to spin off its 15 percent stake in Alibaba, worth over USD 30 billion, under pressure from investors concerned about the deal's tax risks, reports Bloomberg, citing a person familiar with the matter. Yahoo will instead explore the sale of its main internet businesses. The decision came after Yahoo's board met last week to consider options, including whether to divest Alibaba after questions arose about whether the transaction would be tax free. The change in plan was first reported by CNBC, which also said Yahoo was considering options for its Yahoo Japan stake.

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Categories: Internet
Companies: Alibaba / Yahoo / Yahoo Japan
Countries: World
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