Arab Today, arab today yahoo spinning off alibaba stake to aabaco holdings
Last Updated : GMT 18:13:02
Arab Today, arab today
Arab Today, arab today

To wind up owning approximately 384m shares

Yahoo spinning off Alibaba stake to 'Aabaco Holdings'

Arab Today, arab today

Arab Today, arab today Yahoo spinning off Alibaba stake to 'Aabaco Holdings'

Yahoo is spinning off its stake
San Francisco - Arab Today

Yahoo formally notified US regulators that it is spinning off its stake in Chinese e-commerce giant Alibaba to an independent new company called Aabaco Holdings.

Aabaco will wind up owning approximately 384 million shares of Alibaba Group, representing an interest of about 15 percent, according to a filing with the US Securities and Exchange Commission.

The move was designed to sidestep taxes and appease investors eager to tap into Yahoo's multi-billion-dollar stake in Alibaba.

It is also seen as a chance for Yahoo CEO Marissa Mayer to show she can lead the company to renewed glory.

Yahoo was awaiting a ruling by the US Internal Revenue Service about what portion of the transaction will be tax-free. Yahoo warned in the filing that there could be tax implications.

Under the spinoff plan, which was announced early this year, all outstanding shares of Aabaco will be distributed to Yahoo stock holders, the California-based Internet pioneer said in the filing.

Yahoo will also transfer to Aabaco services for small businesses that it hosts in its Internet cloud.

Yahoo bought a 40 percent stake in the Chinese company in 2005 for $1 billion. The current stake of some 15 percent is worth more than $30 billion based on the Alibaba share price Friday.
Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today yahoo spinning off alibaba stake to aabaco holdings Arab Today, arab today yahoo spinning off alibaba stake to aabaco holdings

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today yahoo spinning off alibaba stake to aabaco holdings Arab Today, arab today yahoo spinning off alibaba stake to aabaco holdings

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday