Yahoo board meets to discuss potential sale of company
The Wall Street Journal this afternoon reported that the Yahoo board is going to consider this week whether to sell some or all of the company:
"The fate of troubled Internet portal Yahoo Inc. may be decided in a marathon series of board meetings this week.
Yahoo’s board plans to weigh a potential sale of the company’s core business during a series of meetings beginning Wednesday and continuing through Friday, people familiar with the matter said.
The board is expected to discuss whether to proceed with a plan to spin off more than $30 billion in shares of Alibaba Holding Group Ltd., find a buyer for Yahoo’s core business of Web properties, or both, the people said."
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Investors seem to like the idea: Yahoo shares rose 7% in after-hours trading following news of the breakup talks, after closing at $33.71 Tuesday.
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