Yahoo drops Alibaba spinoff to pursue alternative split

December 9, 2015 4:08 PM

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SAN FRANCISCO — Yahoo is scrapping its original plan to spin off its prized stake in China’s Alibaba Group and will instead explore an alternative breakup that could make it easier to eventually sell its Internet business.

Investors reacted positively to the about-face announced Wednesday as Yahoo’s slumping stock edged higher.

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