YAHOO TO SELL ITS EMAIL SERVICE,WEBSITES AND OTHERS TO VERIZON.

By: Kayode Oluwa.

The America based telecommunication company  Verizon is set to take over popular internet giant Yahoo and there indication that there will be change of name from Yahoo to Altaba, though the new buyer is expected to retain the Yahoo brand.

Under the deal, In its new guise as Altaba, it will become a holding company for investments in Chinese e-commerce giant Alibaba and Yahoo Japan that are together worth more than $40bn (£33bn).

Although the deal needs to be approved by share holders later in the year,  If  it finally  comes through the current 11-member board will resign after the sale to Verizon closes, the company disclosed.

Verizon is looking at whether it should renegotiate the deal in the light of the revelations amid fears that they could trigger a backlash among Yahoo users.

Yahoo - led by Ms Mayer since July 2012 - was once an internet powerhouse before being overtaken by the likes of Google, Amazon and Facebook.  Despite falling out of fashion, it still boasts hundreds of millions of users. The deal covers yahoo  email service, websites, mobile apps and advertising tools

Verizon communications Inc, was incorporated on October 7, 1983 as a holding company . The company through its subsidiaries ,provides communications, information and entertainment products and services to consumers, businesses and government agencies. Its segments include wireless and wireline. 

Pic. Yahoo Boss Marissa Mayer.By: www.Google.com