Verizon Communications Inc said it had agreed to buy Yahoo Inc's core
internet business for $4.83 billion in cash, ending a lengthy sale
process for the fading Web pioneer.
Buying Yahoo's operations will boost Verizon's AOL internet business,
which it bought last year for $4.4 billion, by giving it access to
Yahoo's advertising technology tools as well as other assets such as
search, mail and messenger.
The deal marks the end of Yahoo as an operating company, leaving it with
a 15 per cent stake in Chinese e-commerce company Alibaba Group Holding
Ltd and a 35.5 percent interest in Yahoo Japan Corp.
“The sale of our operating business, which effectively separates our
Asian asset equity stakes, is an important step in our plan to unlock
shareholder value for Yahoo,” Yahoo Chief Executive Marissa Mayer said
in a statement on Monday July 25,2016
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