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Yahoo to spin off Alibaba stake in separate company

Wednesday 28 January 2015 | 08:40 CET | News
Yahoo announced plans to spin off its stake in Alibaba to shareholders. It will create a separately listed public company for its 35.5 percent stake in the Chinese e-commerce group and distribute shares in the company pro rata to Yahoo shareholders. The Alibaba shares were worth around USD 40 billion based on the company's share price the day before the announcement. The tax- and debt-free proposal is expected to reduce pressure on Yahoo to monetise its stake in Alibaba. The company made the announcement alongisde fourth-quarter results showing revenues of USD 1.25 billion, down slightly from

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Categories: Internet
Companies: Yahoo
Countries: World
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