Yahoo shareholder is urged to abandon the allocation of a share in Alibaba


Moscow. November 19. The investment Fund, Starboard Value called on the American Internet-company Yahoo! Inc. to cancel the selection in an independent company of a stake in China’s Alibaba Group Holding and instead to sell the business in the Internet search, Bloomberg reports.

Yahoo owns Alibaba shares worth over $20 billion the Board of Directors of the American company finally approved the allocation of these assets into a separate company with the intention to complete the transaction in January 2016.

Meanwhile, Starboard believes such a deal too risky, despite the fact that previously supported them. Risks related to the fact that the Internal revenue service of the United States Internal Revenue Service (IRS) refused to decide in advance that the deal does not require Yahoo taxes. The amount of taxes can amount to billions of dollars.

Shares of Yahoo in the market on Thursday rose by 1%, while YTD the company’s capitalization fell by 35%.