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Yahoo eyes tax-free spinoff of Alibaba stake
http://www.dw.de/yahoo-eyes-tax-free-spinoff-of-alibaba-stake/a-18220397http://www.dw.de/image/0,,17427555_303,00.jpg
US internet company Yahoo has announced plans to spin off its prized stake in Chinese e-commerce platform Alibaba. The move includes setting up an independent company to sidestep paying a huge sum in taxes.
Yahoo eyes tax-free spinoff of Alibaba stake
28.01.2015
Yahoo Chief Executive Marissa Mayer on Tuesday unveiled a plan to split off the company's 40-percent stake in Alibaba into a new company called SpinCo.
In a conference call Mayer told investors the deal "maximizes value for shareholders," and would avoid a potential tax bill of up to $16 billion under a traditional sale of the stake.
Mayer also said the move is part of a broader effort to help Yahoo's "remixing" of its activities around mobile Internet, video and other forms of online media.
Welcome news
Shares in Yahoo jumped almost 7 percent to $51.2 in after-hours trading on Tuesday as investors cheered the plan.
