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Yahoo CEO Says Alibaba Stake Spinoff Proceeding as Planned

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Yahoo! Inc. Chief Executive Officer Marissa Mayer said that the company’s spinoff of its stake in Alibaba Group Holding Ltd. is proceeding as planned.

Yahoo shares rose as much as 2.3 percent after Mayer said she’s confident about the plan, which will distribute shares in the Chinese e-commerce company to Yahoo shareholders. It shouldn’t be affected by any potential regulatory changes, she said during an interview at the Bloomberg Technology Conference in San Francisco. The company has been reassured that any new tax steps weren’t “specific” to Yahoo, she said.