US telecoms company Verizon has put months of speculation to rest announcing that it will secure Yahoo’s core internet business for $4.8bn.
Verizon seems intent on buying up 90’s web giants having secured AOL last year for $4.4bn, which will now be bolstered by Yahoo’s business.
Yahoo retains only a 35.5 percent stake in Yahoo Japan and less than a fifth of Chinese ecommerce company Alibaba.
Lowell McAdam, Verizon chairman and chief, said: “Just over a year ago we acquired AOL to enhance our strategy of providing a cross-screen connection for consumers, creators and advertisers. The acquisition of Yahoo will put Read full story ›
Source: The Drum
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