Ya­hoo dropsmove to sell stake in Alibaba

China Daily (Canada) - - BUSINESS -

Ya­hoo Inc will scrap the long­planned spinoff plan of its stake in Alibaba GroupHold­ing Ltd, ac­cord­ing to a per­son with knowl­edge of the mat­ter, un­der pres­sure from in­vestors con­cerned about the tax risks of the deal. TheWeb por­tal will in­stead ex­plore a spinoff of its main In­ter­net busi­nesses, said the per­son.

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