Yahoo is reversing its plan to sell its huge stake in Chinese retail monster Alibaba. Instead it will spin off its core internet businesses, including names you recognise like Flickr, Tumblr, et al, into another business.
What does this mean for you right now, non-Yahoo investor? Very little! This is a business deal. Presumably this new entity would be on the block for sale to other companies. There are rumours US comms company Verizon or even private equity firms might step in to gobble up Yahoo’s core.
Yahoo’s been screwing itself up for years, and it’s just too soon to know if this could be a first step towards reviving the OG internet legend.