Yahoo Discussing Plan to Cut Alibaba Stake to 15 Percent

Yahoo Inc. is discussing a plan to cut its stake in Alibaba Group Holding Ltd. to about 15 percent as part of a tax-free transaction valued at between $17 billion and $18 billion, according to people familiar with the matter.

Yahoo currently owns about 40 percent of Alibaba, the value of which it pegged at about $13 billion in September. Yahoo also owns 35 percent of Yahoo Japan, a publicly traded company that has Japanese Internet firm Softbank as another large shareholder.

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