Updated from 9:16 a.m. EST to provide additional analysis on Yahoo's U.S. operations and worth and reflect an ownership change percentage in Yahoo! Japan.NEW YORK ( TheStreet) -- Yahoo! ( YHOO) is trying to unlock the value in its Asian assets, as the company believes it is worth more on a sum-of-the-parts basis than the market has been giving it credit for. The New York Times reported yesterday that Yahoo! is said to be weighing a sale of the majority of its holdings in Alibaba Group and Yahoo! Japan in a tax-efficient deal worth approximately $17 billion, or roughly $14 per share. Yahoo! currently owns 40% of Alibaba Holdings, a Chinese Internet company, and 35% of Yahoo! Japan.