Einhorn Dumps Stake In Yahoo!

twocents@thestreet.com (Robert Holmes), The Street
Fri, 07/08/2011 - 7:12am

BOSTON (TheStreet) -- David Einhorn's hedge fund Greenlight Capital has sold out of its position in Yahoo! at a loss following the Internet search giant's dispute over the ownership transfer of Alibaba's online-payments business Alipay. In a letter to shareholders Friday, Einhorn said his initial purchase of Yahoo! was "based on a sum of the parts analysis," which included putting substantial value on the company's Chinese assets.

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