Andre Yoskowitz
18 May 2012 15:01
Yahoo is preparing to sell off its most profitable venture of all time.
The portal company seems finally ready to part with Chinese giant Alibaba, selling their 40 percent stake for an expected $7 billion.
If accurate, the reports say the deal could be announced on Monday.
After taxes, Yahoo will use all of the money to buy back their own stock.
On the other end, Alibaba will then move towards an IPO. Yahoo Japan (which is a separate company) will then sell 25 percent share, leaving the company on its own with the exception of a small 10 percent share owned by Yahoo Japan.