Starboard asks Yahoo to drop Alibaba stake spinoff plans

November 19, 2015 1:13 PM

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Nov 19 Activist investor Starboard Value LP asked Yahoo Inc to drop its plan to sell its stake in Alibaba Group Holdings Ltd, saying the risk of incurring taxes on the sale was significant.

"We believe the current net cash of Yahoo and the cash generated from the core business sale can be returned to shareholders in ... some combination of share buybacks, returns of capital, and dividends," Starboard said in a letter to Yahoo.

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