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Don't they have a negative net-worth after you take out the Alibaba stake? And I think they were trying to split off that part of the company.
by Natsu 10y ago
Don't they have a negative net-worth after you take out the Alibaba stake? And I think they were trying to split off that part of the company.
- praneshp 10y agoThey don't (as evidenced by the non-Alibaba part being sold for 4.8b).
- throwaway_exer 10y agoNo sale yet, and 4.8b is now a mere dream.
- lmm 10y agoThey did if you assumed the IRS was going to approve a tax-free spin-out of the Alibaba stake (and at the price Alibaba was trading at at the time). As it transpired the IRS did not approve such a spin-out and Alibaba's price has dropped post-IPO.