Yahoo has made it official that it is not selling its search engine’s stake to Chinese e-commerce company Alibaba which Yahoo owned for $7.2 billion in 2012 . It has to be notified over here that from the past three weeks, there were media reports that Yahoo’s CEO Marissa Mayer is planning to sell the company’s 20 year old search engine assets to its subsidiary Alibaba in a reverse spin of deal for $31 billion.
In an interview to CNBC on Wednesday, Yahoo’s three and half year old CEO and Chairman Maynard Webb cleared the air that the web giant’s plan to spin off its core internet business into a separate company does not mean it is actively trying to sell that business.
However, both the board members hinted that they are ready to consider if a good offer comes.
Webb finally concluded on the morning show that Yahoo is presently considering moving off its other assets (except its search engine) into a new company as per reverse spinoff rules. As per his perspective, this whole process could take more than a year’s time from now.
More details will be updated shortly.