Read this
http://www.bloombergview.com/articles/2015-12-02/yahoo-is-lo...
"But what is much more shameful is that the whole point of Yahoo as a company right now is to not pay taxes on Alibaba. I realize that seems a bit hyperbolic, but just look at those numbers. Those Alibaba taxes are worth at least two and a half times the value of Yahoo's entire business. If there was a way to avoid paying taxes on the Alibaba shares that involved burning all of Yahoo's actual businesses to the ground, Yahoo should do that all day long, and then do it again the next day. It would still add shareholder value."