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Yahoo investors say ‘good riddance’ to Alibaba spinoff

FactSet
Yahoo can’t get rid of its Alibaba stake fast enough. (FactSet)

Yahoo Inc. now appears to be more concerned with unloading its Alibaba Holding Group Ltd. stake than it is about paying a big tax bill for doing so. Investors appear to be very happy about that.

Yahoo’s stock YHOO, +2.39% surged 2.4% on more than double its average trading volume on Tuesday, bouncing off a two-year closing low. The company disclosed in a regulatory filing late Monday that it would move forward with its attempt to spin off the 384 million shares of Alibaba BABA, +0.75% it owns despite uncertainty over the tax implications, which could be in the billions of dollars.

It’s hard to blame the Internet company for moving...


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