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Yahoo to spin-off its 15% stake in Alibaba

  • Internet giant Yahoo has said it will spin-off its 15% stake in the Alibaba Group, and hand over the business to shareholders, according to media reports.

    Yahoo will avoid a huge tax bill by creating a separate firm made up of its stake in the Chinese company.

    Meanwhile, Yahoo has reported $166 million in fourth quarter earnings, 52% down from the previous year. Its revenue from display advertising fell by 4% to $532 million compared to a year ago.  

     Chief executive Marissa Mayer said in a statement that Yahoo’s fourth quarter and yearly performance “continues to show stability in our core business.”

     

    Tagged as: Internet, Yahoo, spin-off, stake, Alibaba Group, shareholders, tax bill, Chinese company, fourth quarter earnings, chief executive Marissa Mayer, business news