Yahoo to be named Altaba | 2017-01-11 |

Yahoo to be named Altaba

    10th January, 2017 10:11:04 printer

NEW YORK: Yahoo Inc said Monday that it would rename itself Altaba Inc and CEO Marissa Mayer would step down from the board after the closing of its deal with Verizon Communications Inc.

Yahoo has a deal to sell its core internet business, which includes its digital advertising, email and media assets, to Verizon for US$4.83 billion, reports The Channel NewsAsia.

The terms of that deal could be amended - or the transaction may even be called off - after Yahoo last year disclosed two separate data breaches; one involving some 500 million customer accounts and the second involving over a billion.

Verizon executives have said that while they see a strong strategic fit with Yahoo, they are still investigating the data breaches.