Published January 27, 2015 5:24pm EST | Updated May 21, 2015 1:27pm EDT

Yahoo CEO Mayer Says Spinoff Of Alibaba Stake To Close In Q4

Yahoo Inc. CEO Marissa Mayer said Tuesday the planned spinoff of the company's $40 billion stake in Alibaba [s:BABA] should close in the fourth quarter of 2015. Yahoo undertook the spinoff of all of its 384 million shares in Alibaba to avoid a $16 billion tax liability, according to Mayer. "We believe it maximizes value for our shareholders," Mayer said on a quarterly conference call.