Yahoo Inc is likely to sell its 35 percent stake in Yahoo Japan ahead of the conclusion of its broader strategic review, possibly within weeks, the Financial Times reported.

Yahoo's stake in the Japanese business is seen as an asset the company could dispose of relatively quickly, simplifying its strategic alternatives, the FT reported, citing people familiar with the matter.

A deal to sell its stake in Yahoo Japan -- which Yahoo owns along with Japanese mobile company Softbank -- could facilitate a sale of the rest of the company, the FT said.

The newspaper said Goldman Sachs and Allen & Co are advising Yahoo in considering its overall options while other advisers, including UBS, are exploring how the company could sell its stake in Yahoo Japan.

However, the paper said that such a deal could yet prove impossible.

The FT also said Yahoo was unlikely to spin off its Yahoo Japan stake to U.S. investors -- an option the company had explored earlier this year -- as initial discussions with the Internal Revenue Service were not encouraging.

Yahoo could not be immediately reached for comment.

(Reporting by Swetha Gopinath in Bangalore; Editing by Gary Hill)

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