Yahoo shareholders approve the sale of core business to Verizon
Well, many might aware of the American multinational technology company Yahoo join hands with the Verizon Communications Inc., who is the leader in providing wireless communications service providers in U.S. However, the few months before the purchase price of yahoo by the Verizon was dropped under mutual understanding due to the leak of the millions of user’s online information over the widespread cyber attacks.
Decision taken by the Yahoo’s Shareholders
The pending sale of the core internet business of the internet giant Yahoo to the Verizon Communication just as per the deal conducted near about a year ago by the yahoo officials. In respect to the action, the shareholders meeting was conducted by the Yahoo recently and in conclusion, the meeting of the shareholders ends with the decision of selling the pending sales of the internet core business of yahoo through by the advertising form for about $4.48 billion.
With reference to the news gathered from the trusted sources, the deal made in-between yahoo and the Verizon communication is expected to end in next few days which coming 13th of June 2017. The 21 year run by the web pioneer Yahoo in online as a independent company is ended with the recently held shareholders meeting.
Impact of the deal of Yahoo and Verizon
According to the deal in between the companies, yahoo will be renamed as Altaba. Also the primary assets of the company will be under the control of the Alibaba Group Holding Ltd who is the largest shareholder of yahoo and the a 33.5% stake will be under the control of the Yahoo Japan Corp.
Owing to the decision taken by the yahoo shareholders and deals made by yahoo, the shares of the company experienced a steep raise in the trading world. Thanks to the Chinese e-commerce giant Alibaba who owns the major stake of the yahoo as per the recent deal and vote marked by the shareholders in the meeting.