Gideon Spanier10 April 2012
United States internet firm Yahoo was today in line for a huge windfall as it looked to sell off most of its major Asian assets, which are said to be worth close to $17 billion (£11 billion).
It is thought Yahoo could net upwards of $10 billion by cutting its stake in Chinese internet giant Alibaba from 40% to 15% and selling all of its stake in Yahoo Japan to co-owner Softbank Corp.
Shares in Yahoo jumped 6% to $15.99 on news of the possible deal.
Yahoo has struggled to keep up with Google and has come under pressure from shareholders, including activist hedge-fund manager Third Point, to deliver better value.
The Asian deal is worth the equivalent of $14 a Yahoo share.
