By Noel Young

Yahoo is to spin off its 15 percent stake in Alibaba, China’s leading e-commerce firm, into a separate company, avoiding any taxes on the transaction, chief executive Marissa Mayer has announced.

The decision, was one which Wall Street had been waiting for “since Ms. Mayer joined the company in 2012,” said the New York Times.

“It cheered shareholders since they will directly reap all the remaining profit from Yahoo’s prescient investment, which cost virtually nothing a decade ago but is now worth about $39.5 billion,” the NYT added.

The Alibaba stake makes up nearly 85 percent of Yahoo’s Read full story ›

Source: The Drum