Saturday August 11, 2012
Yahoo may rethink use of cash from sale
SAN FRANCISCO: Yahoo Inc startled investors by announcing that new chief executive Marissa Mayer might reconsider what it would do with the cash it got from a multi-billion dollar sale of half of its 40% stake in Chinese Internet company Alibaba Group.
Shares of Yahoo, which had previously promised to return most of the cash to shareholders, slid 3.5% to US$15.45 in after-hours trade. Reuters