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Yahoo will sell Alibaba stake despite IRS tax stance
2015-09-29 08:50:00| Telecompaper Headlines
(Telecompaper) Yahoo said it plans to move forward with the sale of its stake in Alibaba Group even though the IRS has declined to rule on whether the transaction would be tax free, Reuters reported. Yahoo said earlier this month that the IRS had denied its request for a private letter ruling on whether the spinoff of its stake in Alibaba would be considered tax free. The sale is still subject to certain other conditions including the receipt of a legal opinion on the tax-free treatment of the deal under US federal tax laws, Yahoo said in a regulatory filing. Based on Alibaba's close on 28 September of USD 59.24 per share, Yahoo's 384 million shares in the e-commerce company are worth USD 22.75 billion. The value of the stake is slightly less than Yahoo's market capitalization of about USD 25.98 billion based on 941 million shares outstanding on 31 July and the close on 28 September. Many analysts say Yahoo's core business is worth close to nothing without its Asian assets.
Aldi to sell wine online in the UK
2015-09-28 13:32:00| Daily beverage news and comment - from just-drinks.com
German-headquartered supermarket Aldi is to sell wine online in the UK.
Sell, sue or stay put: considerations for Volkswagen owners
2015-09-28 05:12:52| Auto Dealers - Topix.net
If you're driving a diesel-powered four-cylinder Volkswagen, you're stuck with a fun-to-drive machine that's belching unhealthy pollutants from its tailpipe. Until the company figures out how to fix its bogus emissions controls, there isn't much you can do about your dirty diesel.
Merck KGaA Rating Lowered to Sell at Societe Generale
2015-09-28 01:56:21| Biotech - Topix.net
Separately, Nomura downgraded Merck KGaA from a "buy" rating to a "neutral" rating in a research report on Friday, January 4th.
Tags: rating
sell
generale
lowered
Liberum Capital Reiterates "Sell" Rating for Tate & Lyle PLC
2015-09-27 18:51:48| Food - Topix.net
's stock had its "sell" rating reissued by equities research analysts at Liberum Capital in a report released on Tuesday, Marketbeat.com reports. They currently have a GBX 505 price target on the stock.
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