Scalper1 News
Web portal Yahoo (YHOO)’s planned spinoff of its 384 million share stake in Alibaba Group (BABA) ran into a major roadblock on Tuesday after the Internal Revenue Service said its lawyers won’t grant Yahoo’s request for a ruling saying the spinoff meets the agency’s active trade or business requirement. Yahoo has withdrawn its request for the ruling, the Sunnyvale, Calif.-based Web portal said in a filing made Tuesday with the U.S. Securities and Scalper1 News
Scalper1 News