Yahoo to spin off its stake in Alibaba

Yahoo will spin off its stake in Alibaba Group to form a new investment company, placating shareholders who wanted more value from Yahoo’s share in the Chinese e-commerce giant.The investment company, SpinCo, will own all of Yahoo’s remaining 384 million shares of Alibaba stock, valued at US$40 billion based on the Jan. 26 closing price, Yahoo announced Tuesday.The stock will be distributed pro rata to Yahoo shareholders, resulting in SpinCo becoming a separate publicly traded company, Ya