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Yahoo To Divest The Rest of Alibaba Stake

     
3:32 pm on Jan 28, 2015 (gmt 0)

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This looks as if it's selling a valuable asset. Perhaps i've got this wrong (wouldn't be the first time, and unlikely to be the last).

Yahoo said it would spin off the rest of its 15 percent stake in China’s Alibaba Group today, which will result in a tax-free distribution to its investors. After declining yesterday by 3 percent, shares of the Silicon Valley Internet giant rose on the news, up nearly more than 7.5 percent in after-hours trading.Yahoo To Divest The Rest of Alibaba Stake [recode.net]
 

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