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Shares in Yahoo, which has a 15 percent stake in Chinese
e-commerce company Alibaba Group Holding Ltd, were up 0.6
percent at $50.15 in premarket trading.
Yahoo said it would pay between $50.79 and $44.74 per share
based on its calculations, Alibaba's share price and timing of
the buyback.
Verizon agreed to buy Yahoo's core internet properties last year
for $4.83 billion in cash. It lowered the original offer by $350
million in February following two massive cyber attacks at the
internet company.
After the Verizon deal, Yahoo will be renamed Altaba, a holding
company whose primary assets will be its stake in Alibaba and a
35.5 percent stake in Yahoo Japan.
(Reporting by Supantha Mukherjee in Bengaluru; Editing by Maju
Samuel)
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