Anyone who's been holding on to Yahoo shares through thick and thin is about to reap the rewards of that patience. As the company promised, it's starting to sell back half its stake in Alibaba, closing the first stage of the deal with the equivalent of $7.6 billion in pure revenue. The struggling search and content firm 'only' pockets a net $4.3 billion after taxes and other overhead costs, but it won't even see that much in its bank account: it's purposefully sending $3.65 billion of that money to shareholders, both to inspire new confidence and (unofficially) to head off activist investors like Dan Loeb that might otherwise want a coup d'état. If share owners plan on using the second stage of the sale to fund a vacation to Maui, though, they'll need to wait. Yahoo's deal prevents it from selling half of its remaining 23 percent stake unless Alibaba files for an initial public offering, and there's no guarantee that investors will see another dime of the proceeds.
Filed under: Internet
Yahoo starts selling half of its Alibaba stake as promised, sends $3.65 billion to giddy shareholders originally appeared on Engadget on Wed, 19 Sep 2012 10:26:00 EDT. Please see our terms for use of feeds.
Permalink |
The Huffington Post | Email this | Comments 
Facebook has been making a lot of promises during a tour to drum up interest in its ever-nearing IPO, but the one gadget-heads have been wanting to hear the most, a commitment to its mobile apps, has been elusive -- until now. Everyone's favorite hooded CEO, Mark Zuckerberg, is telling investors in his home 'burg of the San Francisco Bay that mobile is front and center in his company's plans. We're hoping that means new app features, although Zuck is likely referring to money-making as well: shareholders are jittery knowing that Facebook makes most of its money on web ads that it's not running on smartphones and tablets. Paid titles in App Center will go a long way towards scratching that itch, mind you. As for us, we'll just be happy if Facebook takes less than a year and a half to produce a major tablet app.
Facebook CEO Mark Zuckerberg says mobile apps the top focus, we say it's about time originally appeared on Engadget on Sat, 12 May 2012 03:37:00 EDT. Please see our terms for use of feeds.
Permalink
Reuters | | Email this | Comments