Heard on the Street: It’s said that nothing is certain except death and taxes. After years of trying to avoid the latter, Altaba has finally accepted it will face both.
It’s said that nothing is certain except death and taxes. After years of trying to avoid the latter, Altaba has finally accepted it will face both.
The investment company—what remains of Yahoo after it sold its web-portal business to Verizon in 2017—said it would sell and/or distribute its 11% stake in Chinese e-commerce giant Alibaba and liquidate itself. The stake, worth around $50 billion, is essentially Altaba’s only asset. The only problem: Altaba faces a huge tax bill because its predecessor Yahoo bought its initial...
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