A Yahoo logo is pictured in front of a building in Rolle, 30 km (19 miles) east of Geneva, in this file picture taken December 12, 2012.
Credit: /Denis Balibouse
- Yahoo Inc unveiled a plan for a tax-free spin-off of its 15 percent stake in China's Alibaba Group Holding Ltd, a first step in a highly-anticipated process to unwind the holding, which is valued at roughly $40 billion.
Yahoo said on Tuesday that its management has recommended to its board of directors a plan that would spin off the stake into a newly formed independent registered investment company. The stock of the company will be distributed pro-rata to Yahoo shareholders.
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