Following a Yahoo! (YHOO) conference call last night to discuss Q4 results, during which management said it was looking to restructure its assets in Asia, a report today by The Wall Street Journal’s Juro Osawa states the head of finance of the Japanese joint venture confirmed Yahoo! is discussing amending its stakes.
Osaw quotes the CFO of Yahoo! Japan, Akira Kajikawa, as saying,
“Yahoo Inc. is still trying to finalize the mechanism [for selling its stake] and we are cooperating with them.”
Yahoo! has a 35% stake in Yahoo! Japan. The company also has a 42% stake in China’s Alibaba Group Holdings Ltd.
On last night’s call, Yahoo! CFO Tim Morse remarked regarding the Asian assets,
We’re in active discussions with our Asian partners to significantly restructure our holdings in Alibaba Group and Yahoo! Japan in order to unlock value for our shareholders. While we’re pursuing these discussions with enthusiasm, given the complex, unproven, and multifaceted nature of the restructuring, we’re not in a position to provide further detail or certainty on today’s call.
Yahoo! shares today are down 15 cents, or 1%, at $15.53.
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