Yahoo plans to spin off the company’s $40 billion stake in Alibaba will likely buy her at least another year to turn Yahoo’s core business around. In creating the separate company made up of its stake in Alibaba, Yahoo will avoid a large tax bill. Yahoo also reported fourth-quarter earnings of $166m (£109m), a 52% […]
Yahoo plans to spin off the company’s $40 billion stake in Alibaba will likely buy her at least another year to turn Yahoo’s core business around.
In creating the separate company made up of its stake in Alibaba, Yahoo will avoid a large tax bill.
Yahoo also reported fourth-quarter earnings of $166m (£109m), a 52% decrease from a year earlier.
The company said revenue from display advertising fell by 4% to $532m from a year earlier.
However, investors were cheered by the company’s decision to spin-off its Alibaba stake.
Shares in Yahoo increased by more than 6% in trading after US markets closed.
According to a release, Yahoo’s remaining 384 million shares of Alibaba – worth about $40bn – will be owned by a the newly registered company called SpinCo.
