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Yahoo Scraps Plan To Spin Off Alibaba Stake

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy Omniscient Member

Ron Burgundy

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Yahoo CEO Marissa Mayer speaks during her keynote address at the annual Consumer Electronics Show (CES) in Las Vegas(Reuters) - Yahoo Inc said it scrapped a plan to spin off its stake in Alibaba Group Holding Ltd, citing tax concerns. Yahoo's assets and liabilities other than the Alibaba stake will be transferred to a new company, resulting in two separate publicly traded entities, Yahoo said on Wednesday. The stock of the new company will be distributed pro-rata to Yahoo shareholders.




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