The Traderszone Network

Published in TZ Latest News 8 December, 2015 by The TZ Newswire Staff

Yahoo will not spin off Alibaba stake, weighs core business sale: CNBC

SAN FRANCISCO/BENGALURU (Reuters) – Yahoo Inc (YHOO.O) is weighing a sale of its core Internet business and will not sell its stake in Chinese e-commerce firm Alibaba Group Holding Ltd (BABA.N), CNBC reported, with an announcement as soon Wednesday. The moves represent a stark rejection of Chief Executive Officer Marissa Mayer’s plan to sell the $30 billion Alibaba stake, and revive the core Internet unit focusing on growing mobile, video and social media ads. Yahoo could not immediately be reached for comment.