Yahoo to go ahead with Alibaba stake spin-off despite tax question

San Francisco

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 com…