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FBN's Diane Macedo on Yahoo CEO Marissa Mayer possibly denying shareholders the cash payday they were promised.
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Yahoo! shareholders are saying that read -- CEO Marisa Mayer and be considering taxing plans to return cash proceeds.
From the sale of Yahoo!'s stake in Alibaba to shareholders and -- had a joins me now -- I tell you shareholders are probably.
Furious flight over the an interesting situation that basically playing along game if they do you do this but.
-- just to recap here in May Yahoo! agreed to sell their 40% stake in on about a back to that Chinese company for roughly seven billion dollars the proceeds from that were estimated to be about four point two billion.
And Yahoo! at the time promised shareholders that they would be handing those proceeds directly over to them and you may remember.
Yahoo! shares soared on the news it was a very big deal.
But that was all before Marisa Mayer took over about three weeks ago now -- apparently reviewing the company and the company said in a regulatory filing filed yesterday quote.
The review process may lead to a reevaluation.
Of -- changes to.
Our current plans including our restructuring plan our share repurchase program and our previously announced plans for returning -- substantially all.
Of the after tax cash proceeds of -- he's of course.
Refer to the proceeds from this -- -- a deal now.
My Yahoo! spokeswoman.
-- not addressing the issue but she really just said that -- carrying out a careful review of the company's.
And you know weighing potential strategy -- but she didn't really elaborate so what this cash would be used for.
-- it clear right now but she's trying to grow the company's that's not unusual for to keep.
Cash on hand.
But shareholders not to see if it does grow the company it will be good for them -- -- locus of the stock is down right now in the last month maybe not so much Swedish had a one year chart of his company and there's been so much pressure on Yahoo! you've had CEO after CEO common ago.
That that hasn't -- you know done any thing and used shareholders are ready for somebody to deliver -- and that's the problem this is the one concrete thing that Yahoo! was able to promise them we are going to sell this company we are going to get this money and we are going to hand it to you.
If they if they didn't does plan out if this plan.
Does pan out it'll be good for them in the long run but -- shareholders have been through so much that this is the one piece of good news they had to definitively hold on -- And if Yahoo! takes it away you can expect to see some backlash unit.
Just in the initial because she's under so much pressure that's a great story Diana say that they are very much good to see you -- and by the way like like -- but enough Friday at which an.
