Yahoo to consider putting itself up for sale

PanARMENIAN.Net - Yahoo Inc.’s board is planning a series of meetings this week to consider selling off the company’s flagging Internet businesses and how to make the most of its valuable stake in Chinese e-commerce powerhouse Alibaba Group Holding Ltd, the Financial Times reports.

The board is expected to discuss its options in sessions beginning Wednesday, November 2, and continuing through Friday, according to people familiar with the plans.

Directors are likely to discuss whether to proceed with a plan to spin off its investment in Alibaba, currently worth more than $30 billion, find a buyer for Yahoo’s gaggle of Web properties, or both, the people said.

In a sign that change may be afoot at the company, a Yahoo executive recently canceled an appearance at a Credit Suisse investment conference that was planned for Tuesday.

Private equity firms are expected to be among those taking a look at Yahoo’s core business, people familiar with the matter said.

Growing concerns around Chief Executive Marissa Mayer’s lack of progress turning around Yahoo and an exodus of top executives have increased pressure on the company’s board to consider her future and alternatives to her turnaround attempt, now in its fourth year.