Yahoo Spins Off Stake in Chinese E-Commerce Company Alibaba

by Justin Lafferty
Yahoo announced Tuesday that it is spinning off its 15 percent investment in Chinese e-commerce firm Alibaba, avoiding any taxes on this move. Yahoo’s remaining holdings in Alibaba Group will go into a newly-formed independent registered investment company, SpinCo. Yahoo will continue to hold its 35.5 percent interest in Yahoo Japan.Read the full article