Bad News for Yahoo as Deal with Asian Partners Breaks Down
More bad news for the floundering Yahoo, as talks over the sale of its Asian assets have been put on hold, reports AllThingsD's Kara Swisher.
More bad news for the floundering Yahoo, as talks over the sale of its Asian assets have been put on hold, reports AllThingsD's Kara Swisher. Yahoo has been in talks to break ties with the Alibaba Group, but the hold-up seems to come from a disagreement over a difficult-to-parse plan involving taxes on Asian assets.
It's not the first time talks to shed Alibaba have stalled, Swisher notes, but every bump in the road continues to paint Yahoo as unable to get its act together. In fact, when Yahoo's board chairman stepped down last week, it was as investors grew "impatient with the company's persistent inability to effect a turnaround, and frustrated with the apparent indecisiveness of stakeholders over how to handle its investments in Alibaba and other prized Asian assets," according to Reuters.
The current breakdown to will likely worsen those shareholders' frustrations. In fact, Yahoo's shares are apparently already down significantly, making this yet another headache for Yahoo's new CEO Scott Thompson.