Yahoo to go ahead with Alibaba stake spin-off despite tax question
California-based Internet pioneer expects the deal to be completed in Q4 2015
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YAHOO notified US regulators that it is proceeding with plans to spin off its multibillion-dollar stake in Chinese e-commerce giant Alibaba despite the unanswered question of what the tax bill could be.
Yahoo's board of directors has authorised the company to pursue the transaction "as previously disclosed, except that the completion of the spin-off will not be conditioned upon receipt of a favourable ruling from the IRS", the company said in a filing with the US Securities and Exchange Commission (SEC) on Monday.
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