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Yahoo's Alibaba stake will become Aabaco Holdings

Monday 20 July 2015 | 09:19 CET | News
Yahoo! is moving forward with plans to spin off its stake in Alibaba and create a separately listed public company. Yahoo has registered the spin-off with the US Securities and Exchange Commission (SEC) and selected a name for the new public company: Aabaco Holdings. Under the plan announced in January, Yahoo will distribute all of the outstanding shares of Aabaco Holdings pro rata to its shareholders. Immediately after the spin-off, Aabaco Holdings will own around 384 million shares of Alibaba Group, representing an ownership interest of 15 percent in Alibaba Group, and a 100 percent

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