Friday September 18, 2020

Yahoo’s latest U-turn will anger investors

Mayer is testing investors’ patience.

13th December, 2015
Marissa Mayer, chief executive, Yahoo, at the International Consumer Electronics Show in Las Vegas Picture: AP

Now Marissa Mayer is really testing investors’ patience.

After watching her spend three years struggling to turn Yahoo around, Wall Street woke up last Wednesday to learn that Mayer was abandoning a long-anticipated plan to sell a $30 billion stake in Alibaba.

Though the decision was made to avoid a potentially large tax hit, Mayer said the new strategy would take more than a year to get done – meaning more distraction for a management...

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