Starboard To Yahoo: Keep Alibaba, Sell Yahoo – Report
Yahoo (YHOO) should drop its plans to spin off its Alibaba Group (BABA) stake and instead sell its core, ailing businesses. activist investor Starboard Value said in a letter to the Internet giant, the Wall Street Journal reported Wednesday night. Starboard said the Alibaba spinoff carries too much risk, after previously supporting such a move. Earlier this year the IRS said it would not rule in advance whether the spinoff would incur billions of