Yahoo to proceed with Alibaba spinoff as planned

Reuters News
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Posted: Sep 28, 2015 5:33 PM

(Reuters) - Yahoo Inc said it would proceed with the planned spinoff of its stake in Alibaba Group Holding Ltd regardless of a favorable ruling from the U.S. Internal Revenue Service (IRS).

The spin-off will continue to be subject to certain other conditions, including the receipt of a legal opinion on the tax-free treatment of the deal under U.S. federal tax laws, Yahoo said in a regulatory filing on Monday. (http://1.usa.gov/1FxLxDD)

(Reporting by Devika Krishna Kumar in Bengaluru; Editing by Maju Samuel)