Internet giant Yahoo! is currently pondering over the idea of selling an overwhelming portion of its Asia based assets at an amount valued somewhere around $17 billion, according to reports.
Soon after the news emerged, Yahoo's yet-to-be-confirmed plans started enjoying the back-up of Wall Street, and thereby beefing up its share prices significantly.
Wall Street Journal reports that Yahoo! is currently planning to cut 40 per cent of its stake in the China based e-commerce outfit Alibaba. In fact, the company could lower its stake in Alibaba by more than 50 per cent to somewhere around 15%.
Yahoo!, since the past few months have been trying desperately to figure out a strategic plan in order to bring back its glorious days back. It is worth noting here that, once a dominating force in the World Wide Web, Yahoo!'s foothold in the industry has been steadily weakening off late - mostly because it could not offer enough resistance to the increasingly dominating forces such as Google and Facebook.
According to analysts keeping a close eye on the company's recent performance, the move to sell its Asian assets, if truly implemented, could after all prove to be quite helpful in bringing back its core business in shape again.