On Thursday, Yahoo Inc. accepted a plan to buy back $2 billion of its own shares.
According to the company’s announcement, the plan expires March 31, 2018. Yahoo! said about the remained $726 million available under the current purchase program.
The buyback is a part of the corporation’s strategy aimed at the extension of the shareholders’ cash.
Yahoo! plans to spin off its share of Alibaba Group into a separate company to be named SpinCo. This company will hold a total of 384 million Alibaba’s shares which is worth about $40billion.
SpinCo shares will be split between the shareholders of Yahoo!. It allows the new company to pay less tax on sales of Alibaba shares compared to tax payments which Yahoo! would have paid.
