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.
83 billion, reports The Channel NewsAsia.
Yahoo has a deal to sell its core internet business, which includes its digital advertising, email and media assets, to Verizon for US$4.
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.