In a world where companies are regularly accused of failing to pay their fair share of tax, Altaba is a reassuring counterexample. rob_cyran
Altaba said on April 2 it intends to liquidate, including selling its shares in Chinese e-commerce company Alibaba.
The company was created in 2017 to hold that stake and other assets previously owned by U.S. internet group Yahoo. Altaba estimates it could distribute up to $41.1 billion to investors. That is equivalent of $79.22 per share. Altaba’s stock price immediately prior to the announcement was $73.94 per share.
The company will hold between $11 billion and $11.9 billion in reserves for potential tax liabilities. Altaba said Alibaba shares represented 89 percent of the fund’s total assets in March.
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