Yahoo could become takeover target without stake in Alibaba
New York
YAHOO! Inc will be a fraction of its size should the company spin off its remaining stake in Alibaba Group Holding, making it a takeover candidate for SoftBank Corp or private-equity firms.
Marissa Mayer, chief executive of the US$46 billion company, is expected to give an update next week about whether Yahoo will sell its Alibaba shares and how it will avoid paying taxes on the move. With the Chinese e-commerce company accounting for most of Yahoo's value, shareholders would be left holding a US Internet advertising and search business worth about US$5 billion to US$8 billion, according to analysts' estimates compiled by Bloomberg. Yahoo will also still have a roughly US$8 billion stake in Yahoo Japan Corp.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Technology
Garmin’s Q1 results beat on strong demand for fitness, auto products
Foxconn’s musical chairs sound like punk rock
US sets up board to advise on safe, secure use of AI
Regulate AI? How US, EU and China are going about It
Meta’s results are best viewed through rose-tinted AI glasses
'Harvesting data': Latin American AI startups transform farming