The Yahoo logo is shown at the company's headquarters in Sunnyvale, California April 16. (Photo : Reuters)
Yahoo is currently in a quandary as rumors continue to surface about the impending dismissal of its CEO. On top of that, rumors are also claiming that the company is considering selling its entire core business.
According to The Guardian, the Yahoo board is planning to discuss the sale of its core internet business on a meeting scheduled some time this week. The meeting is also believed to cover the future of the company's current chief executive Marissa Mayer.
People who are familiar with the issue told The Wall Street Journal that the board will discuss whether they want to proceed with the initial plan of spinning off more than $30 billion in shares of Alibaba.
Reports claim that Yahoo's core business which includes the popular email service Yahoo Mail could attract private companies as well as telecom or media firms.
News about Yahoo planning to let go its core businesses came as its current CEO faces increased pressure due to the continuing decline of the company's market performance.
Yahoo's plan to spin its stake in Alibaba was stopped when the United States Internal Revenue Service denied the company's request to allow the transaction to pass as a tax-free deal. Yahoo said that it will still proceed with the initial plan despite IRS' refusal of its request.
Another interesting twist in Yahoo's continued struggle arrived in November when activist investor Starboard Value asked the company to withdraw its plans to spin off its stake in Alibaba and instead reconsider selling its core search and advertising businesses.
