Alibaba Stake Spin-Off News Sends Shares Higher Today (NYSE: BABA)
September 29, 2015 at 16:14 PM EDT
The tax-free Alibaba stake spin-off of Yahoo Inc. will move forward, Yahoo announced in a filing Monday. Yahoo Inc.'s (Nasdaq: YHOO) Alibaba shares are worth roughly $22 billion. Earlier in September, the IRS announced that it has not explicitly signed off on the tax-free Alibaba stake spin-off. Now, Yahoo officials are betting that their plan is legally acceptable and will pass the IRS's regulations. Here's what today's news means for investors... Tags: (Nasdaq: YHOO) , Alibaba spinoff , Alibaba stake spinoff , Alibaba Stock , Alibaba stock price , NYSE: BABA , Yahoo Alibaba spinoff , yahoo spinoff , yahoo stock , yahoo stock price To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2015 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post Alibaba Stake Spin-Off News Sends Shares Higher Today (NYSE: BABA) appeared first on Money Morning - We Make Investing Profitable .