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Yahoo Japan Stock Drops Over Asset Talks Stalemate

     
6:17 pm on Feb 15, 2012 (gmt 0)

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Yahoo Japan Stock Drops Over Asset Talks Stalemate [bbc.co.uk]
Shares of Yahoo Japan fell 5% on the Tokyo Stock Exchange on reports that talks regarding the swap of Yahoo's Asian assets had hit a stalemate.

Yahoo owns a 43% stake in China's Alibaba group, which it acquired in 2005 for $1bn (636m), and a part of Yahoo Japan.

It had been negotiating a complex swap-deal that was expected to save it billions of dollars in taxes.

However, various reports indicated that no agreement had been reached.

"I think the deal is either dead or it's going to take a lot longer to complete, which means we don't have a near-term catalyst; hence the selloff," said Brett Harris, an analyst with Gabelli & Co.