WSJ : Yahoo! Board To Weigh Potential Sale Of Internet Business

(RTTNews) - Yahoo! Inc.'s (YHOO) board plans to weigh a potential sale of the company's core business during a series of meetings beginning Wednesday and continuing through Friday, the Wall Street Journal reported citing people familiar with the matter.

The board is expected to discuss whether to proceed with a plan to spin off more than $30 billion in shares of Alibaba Holding Group Ltd., find a buyer for Yahoo's core business of Web properties, or both, the report said.

Private equity firms are expected to be among those taking a look at Yahoo's core business, the Journal noted.

Activist investor Starboard Value LP last month called on the company to halt its Alibaba spinoff and instead find a buyer for its Internet business.

YHOO closed Tuesday trading at $33.71, down $0.10 or 0.30%. However, in after-hours, stock gained $2.38 or 7.06%.