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Yahoo Inc on Friday officially announced to spin off its remaining stake in Chinese e-commerce company Alibaba Group Holdings Ltd.
The company said that it is going to spin off its stake in Alibaba to an independent new company called 'Aabaco Holdings'. This new company will combine 15% ownership of Alibaba Holdings and a small unit of Yahoo.
The company said that it is going to spin off its stake in Alibaba to an independent new company called 'Aabaco Holdings'. This new company will combine 15% ownership of Alibaba Holdings and a small unit of Yahoo.