UPDATE 1-Yahoo to spin off Alibaba stake, bowing to pressure
January 27, 2015 at 16:36 PM EST
SAN FRANCISCO, Jan 27 (Reuters) - Yahoo Inc unveiled a plan for a tax-free spin-off of its 15 percent stake in China's Alibaba Group Holding Ltd, responding to pressure to distribute to shareholders its prized investment valued at roughly $40 billion.
