Yahoo sells its entire holding in Alibaba
2015-01-27 23:30
The American Internet company Yahoo reveals in its interim report for the fourth quarter that management has made a proposal to the Board to sell a 15 percent stake of shares in the Chinese e-commerce giant Alibaba . The sale will take place through a new stand-alone investment.
The value of Yahoo’s stake in Alibaba is estimated at about 40 billion dollars.
The company reported a profit for the quarter of $ 166 million, or 17 cents per share. This is a decrease from the same period last year when profits were $ 248 million, or 33 cents per share.
Turnover fell to 1.18 billion from 1.26 billion compared to 2014.
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