They haven't fully, but want to spin it off into its own company so that taxes don't have to be paid. That's not going well for them (the IRS didn't say they we

They haven't fully, but want to spin it off into its own company so that taxes don't have to be paid. That's not going well for them (the IRS didn't say they were A OK) and meanwhile BABA shares have tanked (ended the first trading day at $93.89 and is currently at $69.75). tl;dr Mayer can no longer hide behind everyone's hopes and dreams of a monster Alibaba IPO.