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Yahoo Shares Fall On Worries Of Possible U.s. Tax Change On Spinoffs

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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A Yahoo logo is pictured in front of a building in RolleBy Yasmeen Abutaleb WASHINGTON (Reuters) - Yahoo Inc shares fell 7.6 percent on Tuesday on concerns that a possible change in U.S. tax regulations would affect Yahoo's planned spinoff of its stake in Alibaba Group Holding Ltd . The change - discussed by a U.S. Internal Revenue Service (IRS) official in Washington - could complicate the plan announced by Yahoo in January to spin off its 15 percent stake in Alibaba tax free. Yahoo said in a statement that it understood the IRS statement was not specific to Yahoo's planned spin-off of its remaining stake in Alibaba Group and its Small Business unit.




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