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Yahoo spin-out Altaba selling its Alibaba stake before closing down

Bye-bye Altaba! The Yahoo spin-out created to house its lucrative stake in Alibaba and Yahoo Japan has announced that it will sell its lucrative stake in Alibaba and shut up shop. The entity has long existed as a proxy to Alibaba, and the sale is expected to net shareholders around $40 billion. Interestingly, Yahoo infamously sold half of its stake back to Alibaba in 2012 through a deal that valued the shares at $13.