Yahoo appears to be getting closer to giving its frustrated shareholders something they’ve long wanted: a sale of the Internet company’s holdings in China and Japan.
The prospect of Yahoo Inc. finally consummating a deal with China’s Alibaba Group and Softbank Corp., the controlling owner of Yahoo Japan, emerged in online reports published Wednesday by The New York Times and The Wall Street Journal.
Citing unnamed people familiar with the matter, both newspapers reported Yahoo is exploring a proposal valued at about $17 billion, or $14 per share. The price reflects Wall Street’s belief that Yahoo’s investments in Alibaba Group and Yahoo Japan have become the company’s most valuable pieces. Yahoo’s U.S. business has lost its luster as the company’s website loses traffic and advertising revenue to Internet search leader Google Inc. and Facebook’s social network.
Read the rest of the story: Reports: Yahoo examining complex $17 billion proposal to sell most holdings in China, Japan.