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Thursday, 03 December 2015 00:00

Yahoo planning to start Web Business Featured

Yahoo! Inc.’s board will consider a potential sale of the company’s main Internet businesses in a series of meetings.  The board will discuss whether to stick to its plan to spin off the company’s stake in Alibaba Group Holding Ltd., to find a buyer for Yahoo’s Web businesses.

Yahoo’s core business could be worth about $1.9 billion, not including about $5.8 billion in cash expected at the end of 2016.Yahoo is planning to complete the spinoff of its Alibaba stake, now worth more than $30 billion, by next month, Yahoo key personal, Mayer said “I have very aggressive expectations for Yahoo’s core business,”. “We have the right talent, the right strategy, and the right assets to drive long-term sustainable growth for our investors.” The prospect of the U.S. Internal Revenue Service taxing the Alibaba transaction also has weighed on the stock.

 Even though the IRS declined to give Yahoo an advance ruling blessing the deal, Yahoo’s board authorized the spinoff in September. While the agency is stepping up scrutiny of such transactions, the company is going forward with the plan, which was announced in January, after the IRS indicated any decision isn’t likely to be retroactive.

Read 13353 times Last modified on Friday, 04 December 2015 07:30