Yahoo sold to Verizon

The deal is worth approximately five billion US dollars.

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Yahoo's core business has been sold to telecoms firm Verizon for nearly $5billion.

Last year Verizon spent nearly $4.5bn on AOL.  Verizon will no doubt be looking to combine the two fading brands to create a potential competitor to Google’s Alphabet and Facebook in the mobile advertising markets.

Yahoo will continue as an independent company until the deal is approved by regulators and shareholders.  Yahoo’s Asian web businesses have not been sold.

Source: BBC.