Yahoo will no longer sell its stake in Chinese e-commerce firm Alibaba but will spin off its core businesses into a new company.
The move follows several days of meetings and the board has today announced that the tech giant’s internet business will now be put into a new company to be listed on the stock market instead.
Yahoo subsidiaries such as Yahoo Japan and Yahoo Sport will form the spin off business alongside the Tumblr blogging network. The move, which is subject to regulatory approval, could take more than a year to complete, the online business said.
Yahoo purchased a 40 per Read full story ›
Source: The Drum
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