For the new management of Yahoo led by interim CEO, Levinsohn, today was the D-Day when YHOO, the stock of Yahoo, raised to 15.42 on the news of the Yahoo-Alibaba deal that it was close to selling its 40% stake in Alibaba, the Chinese Internet group, back to the company.
Since the end of Thompson era at the Yahoo, YHOO has gone down by 3.69% – from 15.44 at close on Friday May 14 to 14.87 at close on Thursday May 17. But it climbed by 6.7% at close on Friday when it reached 15.42.
Yahoo and Alibaba may close an accord of $4.6 billion after tax proceeds, on Monday, estimated by Stifel Nicolaus.
No comments could be secured from any of the parties to the deal.
Source: Yahoo Finance