je.st

Home › sell stake

Tag: sell stake

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.

Tags: sell yahoo tax alibaba

Kumho Industrial creditors to sell collective stake in firm for $623 million

2015-09-19 09:22:58| Industrial Machines - Topix.net

Creditors of South Korea's Kumho Industrial Co Ltd have agreed to sell their collective majority stake in the firm to the chairman of Kumho's former parent group for 723 billion Korean won , one of the creditor banks said on Friday. Korea Development Bank, in a text message to reporters, said creditors have reached an agreement on the sales price for their collective shares, which amounts to one share more than 50 percent.

Tags: sell million industrial firm

UPDATE 2-TeliaSonera, Telenor offer to sell Danish network stake to new player

2015-09-08 03:20:45| IT Services - Topix.net

TeliaSonera Telenor have offered to sell up to 40 percent of a network infrastructure unit, part of their proposed Danish mobile deal to win over EU antitrust regulators worried about a lack of competition resulting from their deal. The novel proposal from the Swedish and Norwegian operators came after a first offer to sell two blocks of 2100 megahertz spectrum, and rent up to 15 percent of the merged Danish unit's network capacity to a new rival, received negative market feedback.

Tags: offer network sell update