Yahoo!’s (YHOO) board of directors, after meeting earlier today, have reached at least a tentative plan to sell the company’s assets in Asia, AllThingsD’s Kara Swisher wrote this morning, citing multiple anonymous sources.
“The Yahoo board has approved continuing the negotiations to come to a final agreement over the stake, sources said, which should take six to eight weeks,” writes Swisher.
Swisher adds, “the company signed a term sheet earlier this week with Japan�s SoftBank to sell back all its holdings there and with China�s Alibaba Group to sell off more than half its stake. ”
Yahoo!’s committee for strategic review of options met yesterday, with a full board meeting today.
The Wall Street Journal’s Gina Chon this afternoon writes something similar, if somewhat less emphatic, writing, “The full board and the board committee leading the strategic review considered the tax-efficient proposal for the Asian assets on Friday, the people said.”
Chon adds that the board “hasn’t ruled out other proposals to sell a minority stake to private-equity firms, and the company is continuing to keep all options open, the people said.”
Yahoo! shares today are up 13 cents, or 0.8%, at $16.13.
No comments:
Post a Comment