Wait, so since they can't spin off the Alibaba stake tax free, they're going to spin off Yahoo (and pay taxes on that lesser-valued spin off)? Shareholders woul

Wait, so since they can't spin off the Alibaba stake tax free, they're going to spin off Yahoo (and pay taxes on that lesser-valued spin off)? Shareholders would then own 'YHOO' which are basically BABA pass-through stocks, and whatever other company Yahoo becomes?