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Alibaba Stake Spin-Off News Sends Shares Higher Today (NYSE: BABA)
The tax-free Alibaba stake spin-off of Yahoo Inc. will move forward, Yahoo announced in a filing Monday. Yahoo Inc.'s (Nasdaq: YHOO) Alibaba shares are worth roughly $22 billion.
Earlier in September, the IRS announced that it has not explicitly signed off on the tax-free Alibaba stake spin-off. Now, Yahoo officials are betting that their plan is legally acceptable and will pass the IRS's regulations.
The tax-free Alibaba stake spin-off of Yahoo Inc. will move forward, Yahoo announced in a filing Monday. Yahoo Inc.'s (Nasdaq: YHOO) Alibaba shares are worth roughly $22 billion.
Earlier in September, the IRS announced that it has not explicitly signed off on the tax-free Alibaba stake spin-off. Now, Yahoo officials are betting that their plan is legally acceptable and will pass the IRS's regulations.