Printed from http://www.electronista.com

Yahoo to return $3.65 billion to stockholders

updated 07:57 pm EDT, Tue September 18, 2012

Most of money from Alibaba deal to be returned

Following the closure of a deal in which it will sell back its stake in Chinese e-retailer Alibaba, Yahoo will return most of the cash to the company's shareholders. Yahoo will be giving out about $3.65 billion in after-tax proceeds from the deal, keeping about $650 million for the company. The company will retain control of 23 percent of Alibaba's common stock.

Yahoo CEO Marissa Mayer hailed the dividend as a way to generate liquidity in order to drive value for shareholders. The retention of common stock in Alibaba, Mayer said in a statement, will lead to a future windfall when that company makes its own initial public offering.

Yahoo previously owned 40 percent of Alibaba, but talks to began earlier this year. The divestiture is said to stem in part from previous efforts by Alibaba to buy Yahoo outright with the assistance of Softbank.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Dell AD211 Bluetooth speaker

For all of the high-priced, over-engineered Bluetooth speakers in the electronics market, there is still room for mass-market solution ...

VisionTek 128GB USB Pocket SSD

USB flash drives dealt the death blow to both the floppy and Zip drives. While still faster than either of the old removable media, sp ...

Kodak PixPro SL10 Smart Lens Camera

Smartphone imagery still widely varies. Large Megapixel counts don't make for a good image, and the optics in some devices are lacking ...

Sponsor

toggle

Most Commented

 
toggle

Popular News