Yahoo shareholders have approved the sale of the underlying assets of the company for $4,48 billion


NEW YORK, June 8. /Offset. TASS Kirill Volkov/. Shareholders of the American Internet company Yahoo has approved the sale of the main part of its assets telecommunications Corporation Verizon for of 4.48 billion. This was reported by the online portal Business Insider.

As expected in Yahoo, the deal will be closed on 13 June this year. The company sells its core Internet business, including search engine, email service and news that are most attractive to investors assets.

Yahoo suggested that the deal, which was announced in July last year, will be closed in the first quarter of this year. However, this process was delayed because of a scandal revealed by the information held in relation to the company two major hacking attacks. In Verizon stated that they needed to obtain a complete picture of the scale of the consequences of the break-ins leading to the theft of data of more than 1.5 billion users, and how this has affected the financial position of Yahoo.

As previously reported, after the sale, President and CEO of Yahoo Marissa Mayer will leave the Board of Directors. The company itself will be renamed to Altaba, its Board of Directors will remain five members. Under the deal, the company will retain a stake in China’s Alibaba Group, as well as some of their patents.

Yahoo was founded in 2004 by an American company with headquarters in Sunnyvale (California), specializing in projects and services on the Internet. Owns a search engine with the same name, also provides e-mail services. Verizon is the largest telecommunications company in the United States. It was founded in 1983, headquartered in new York.

Source