Employees play table tennis inside the headquarters office of Alibaba (China) Technology Co. Ltd on the outskirts of Hangzhou, Zhejiang province May 21, 2012.
/Steven Shi
Yahoo Inc (YHOO.O) said it would proceed with the planned spinoff of its stake in Alibaba Group Holding Ltd (BABA.N) regardless of a favorable ruling from the U.S. Internal Revenue Service (IRS).The spin-off will continue to be subject to certain other conditions, including the receipt of a legal opinion on the tax-free treatment of the deal under U.S. federal tax laws, Yahoo said in a regulatory filing on Monday. (
1.usa.gov/1FxLxDD) (Reporting by Devika Krishna Kumar in Bengaluru; Editing by Maju Samuel)
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