Advertisement
Singapore markets closed

  • Straits Times Index

    3,280.10
    -7.65 (-0.23%)
     

  • Nikkei

    37,934.76
    +306.28 (+0.81%)
     

  • Hang Seng

    17,651.15
    +366.61 (+2.12%)
     

  • FTSE 100

    8,139.83
    +60.97 (+0.75%)
     

  • Bitcoin USD

    63,559.51
    -472.53 (-0.74%)
     

  • CMC Crypto 200

    1,324.55
    -71.99 (-5.16%)
     

  • S&P 500

    5,102.96
    +54.54 (+1.08%)
     

  • Dow

    38,252.22
    +166.42 (+0.44%)
     

  • Nasdaq

    15,929.58
    +317.82 (+2.04%)
     

  • Gold

    2,349.00
    +6.50 (+0.28%)
     

  • Crude Oil

    84.09
    +0.52 (+0.62%)
     

  • 10-Yr Bond

    4.6750
    -0.0310 (-0.66%)
     

  • FTSE Bursa Malaysia

    1,575.16
    +5.91 (+0.38%)
     

  • Jakarta Composite Index

    7,036.08
    -119.22 (-1.67%)
     

  • PSE Index

    6,628.75
    +53.87 (+0.82%)
     

Yahoo to proceed with Alibaba spinoff as planned

Reuters

(Reuters) - Yahoo Inc (YHOO.O) said it would proceed with the planned spinoff of its stake in Alibaba Group Holding Ltd (BABA.N) regardless of a favourable ruling from the U.S. Internal Revenue Service (IRS).

The spin-off will continue to be subject to certain other conditions, including the receipt of a legal opinion on the tax-free treatment of the deal under U.S. federal tax laws, Yahoo said in a regulatory filing on Monday. (http://1.usa.gov/1FxLxDD)

(Reporting by Devika Krishna Kumar in Bengaluru; Editing by Maju Samuel)