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| Yahoo looks to separate its Alibaba stake | Yahoo looks to separate its Alibaba stake |
| (about 1 hour later) | |
| The US search engine Yahoo has confirmed it is looking at "strategic alternatives" for its business - including splitting off its stake in Chinese online retailer Alibaba. | The US search engine Yahoo has confirmed it is looking at "strategic alternatives" for its business - including splitting off its stake in Chinese online retailer Alibaba. |
| Yahoo said it is setting up a committee to look into how the business can be reorganised to reverse its current financial woes. | Yahoo said it is setting up a committee to look into how the business can be reorganised to reverse its current financial woes. |
| The firm's share price has fallen by more than 40% since the end of 2014. | The firm's share price has fallen by more than 40% since the end of 2014. |
| Boss Marissa Mayer has been under pressure to revitalise the business. | Boss Marissa Mayer has been under pressure to revitalise the business. |
| Earlier this month Yahoo confirmed it was cutting 15% of its workforce after reporting a $4.3bn (33bn) loss for the year. | |
| The job cuts will mean the company will have around 9,000 staff by the end of 2016. | |
| Ms Mayer said: "Separating our Alibaba stake from Yahoo's operating business is essential to maximizing value for our shareholders. | |
| "We can achieve this by working with the committee... while in parallel, aggressively executing our strategic plan to strengthen our growth businesses and improve efficiency and profitability." | |
| Although Yahoo is still one of the best-known names on the Internet, and has around one billion users, it has fallen behind Google in Internet search. | |
| The poor performance has lead some shareholders to call for the management team including Ms Mayer to be removed. | |
| Yahoo has appointed Goldman Sachs, JP Morgan and PJT partners as its financial advisers. | |
| The California tech group said it would not be making any further comment on the matter until an agreement had been reached. |