and still worth $12 per share
Ever heard of repatriation taxes. This little deal doesn't address them and they are more than the capital gains taxes.Plus Yahoo ends up with a Chinese operating asset it can't sell for 2 years. Now here is Yahoo, it could not manage a 40% stake in Alibaba Group how are they going to manage a small stake in Alibaba Group and run an operating asset in China for which they don't have a license?
It's a tax free deal. Repatriation taxes have nothing to do with a cash rich split off.