The Traderszone Network

Published in TZ Latest News 27 January, 2015 by The TZ Newswire Staff

Yahoo sets Alibaba stake spinoff plan, shares jump

Yahoo Inc (YHOO.O) plans to spin off its 15 percent stake in China’s Alibaba Group Holding Ltd (BABA.N), responding to pressure to hand over to shareholders its prized e-commerce investment valued at roughly $40 billion. Shares of Yahoo rose about 7 percent to $51.45 in after-hours trading on Tuesday, following the tax-free spinoff announcement and earnings which just beat analysts forecasts even as its revenues slightly lagged estimates.

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