The IRS declined a request for a preliminary ruling that the way the spin-off is structured satisfies requirements for avoiding taxes on the multi-billion-dollar stake in Alibaba. At the same time, the IRS did not indicate for sure that the transaction would be taxable, according to th...
The IRS said earlier this month that it was working to amend the rules on taxing spinoffs. Yahoo Chief Executive Marissa Mayer has been under intense pressure from shareholders to spin off its 15 percent stake in Alibaba, which is worth nearly as much as Yahoo itself. The value of the sta...
1. Yahoo has a 15% stake in Chinese e-commerce giant Alibaba worth about $30 billion. 2. Spinning off that stake would have generated a lot of money for Yahoo (YHOO) and its shareholders. But, after an unfavorable IRS ruling, it could have been subject to a gigantic tax bill of ab...
after taxes. Yahoo said in January that it would spin off its remaining stake in Alibaba into a new company owned by Yahoo shareholders. Yahoo expects the transaction to occur in the fourth quarter, after its one-year lockup agreement with Alibaba expires. ...
A crucial deal for Yahoo has hit a snag after the US Internal Revenue Service refused to bless the Internet company’s proposed spinoff of its US$23 billion stake in Alibaba Group as a tax-free transaction. Despite the rebuff, Yahoo emphasized the IRS didn’t rule out the possibility that...
Yahoo flipped its reorganization plan Wednesday, announcing it would keep its stake in China's Alibaba but spin off its core Internet business—creating new uncertainties for the struggling tech giant.
Yahoo! (YHOO) shares are rallying in early morning trading after the company said it would move ahead with the spin off of its stake in Chinese e-commerce company Alibaba (BABA).
I'LL START WITH YOU. IT WAS ONLY A NUMBER OF WEEKS AGO WHEN THE BOARD WAS STILL SPEAKING OR I SHOULD SAY THE COMPANY WAS STILL SPEAKING RELATIVELY POSITIVELY ABOUT ITS PLAN TO SPIN OFF THE ALIBABA STAKE. I'VE HAD A NUMBER OF SHAREHOLDERS ...
But one project that Yahoo simply can't let go on just yet? The Alibaba spinoff, which hasalready hit some regulatory snafus. "In addition to sharpening focus within core business growth, our top priority is the planned spinoff of Aabaco Holdings," Mayer wrote. "This is an important mom...
Yahoo is doing the spin-off as part of a plan to prevent the remaining profits from its $1 billion investment in Alibaba from being taxed in the U.S., but it's now unclear whether that will pan out. The IRS raised doubts by declining to declare the spin-off will protect the Alibaba...