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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 percent stake in Chinese e-commerce company Alibaba
Group Holding Ltd <BABA.N> and a 35.5 percent interest in Yahoo
Japan Corp <4689.T>.
"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.
The sale does not include Yahoo's cash, its shares in Alibaba,
its shares in Yahoo Japan, Yahoo's convertible notes, certain
minority investments and Yahoo's non-core patents.
The Alibaba and Yahoo Japan investments are worth about $40
billion, while Yahoo had a market value of about $37.4 billion
as of Friday's close.
(Reporting by Anya George Tharakan in Bengaluru; Editing by Ted
Kerr)
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