Yahoo is set to cash in on Asia with $17bn sale

The US internet giant Yahoo is in line for a huge windfall as it looks to sell most of its major Asian assets, which are said to be worth close to $17bn (£11bn). It is thought Yahoo could net upwards of $10bn by cutting its stake in Chinese internet giant Alibaba from 40 to 15 per cent and selling all its stake in Yahoo Japan to co-owner Softbank.

Yahoo has struggled to keep up with Google and has been under pressure from shareholders, ncluding the activist hedge-fund manager Third Point, to deliver better value.