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Yahoo cancels Alibaba spinoff plan, will create a separate company

Ms Mayer, who took over as CEO in 2012, has so far failed to revitalise the Internet pioneer

San Francisco

YAHOO! Inc will scrap the long-planned spinoff of its stake in Alibaba Group Holding under pressure from investors concerned about the tax risks of the deal.

The Web portal will instead create a separate company to hold the rest of its assets. The new publicly traded