Remember our story about Alibaba looking into the possible purchase of a major stake in Yahoo? Well, it seems that the talks between both Internet giants have hit a brick wall – which means their plans for a $17 billion tax-free asset swap might eventually be derailed and end up as nothing but hot air. This particular impasse came about on the same day where activist investor Daniel Loeb from hedge fund ThirdPoint intended to install his own company of directors on Yahoo’s board. This just goes to show the kind of turmoil that is currently engulfing the Web giant.
Yahoo and Alibaba officials have declined to comment at the moment, but perhaps Yahoo and their Asian partners might eventually arrive and settle on a different agreement. We will not speculate on whether it is the right time to jump in and pick up Yahoo’s shares, so you would do well to consult with your stockbroker on that for professional advice.
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