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Yahoo to consider sale of core internet business - report
2015-12-02 08:20:00| Telecompaper Headlines
(Telecompaper) Yahoo's board is planning a series of meetings this week to consider selling off the company's internet businesses and how to monetise its stake in Alibaba Group, the Wall Street Journal reports. The board is expected to discuss options in sessions beginning Wednesday and continuing through Friday, according to people familiar with the plans. They will consider whether to proceed with the planned spin-off of the stake in Alibaba, currently worth more than USD 30 billion, find a buyer for Yahoo's web properties, or both, the report said. Private equity firms are expected to be among those taking a look at Yahoo's core business, which includes properties such as Yahoo Mail and Yahoo News. Together its sites are the third-most visited in the US, with 210 million visitors in October, according to ComScore. Investor Starboard Valu last month called on the company to halt its Alibaba spin-off and instead find a buyer for its internet business. This followed the federal government's decision not to rule on whether the Alibaba spin-off would incur billions of dollars in taxes.
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Category:Telecommunications