Yahoo-Alibaba Talks Falter as Third Point Steps Up Pressure

Yahoo! Inc.’s board faced renewed shareholder pressure to make changes yesterday amid a breakdown in negotiations to sell its Asian assets, a deal that could generate more than $10 billion for the company.

Talks to divest a stake in Alibaba Group Holding Ltd. and Yahoo’s Japanese operations have reached an impasse, according to a person briefed on the matter, who asked not to be identified because the discussions are private. The discussions had focused on a tax-efficient deal, though the parties may still pursue other approaches, the person said.