Yahoo has completed the sale of core assets to Verizon for a total of $4,48 billion. This was announced by the same company that will become Altaba from next June 16 and will move from Sunnyvale (California) to New Tork City.
The new group, after the sale of businesses such as Yahoo Mail and Yahoo News, will consist of an approximately 15% stake in Chinese e-commerce giant Alibaba and another 36% stake in Yahoo Japan. Added to these assets are cash, bonds and Excalibur, which own patents that were not a core part of Yahoo's business.
On June 16, Altaba will apply for a listing with the Securities and Exchange Commission as a non-diversified investment firm. Until that day, Yahoo will continue to trade on the Nasdaq under the symbol YHOO.
Effective June 19, Altaba common stock will begin trading under the ticker AABA. "No action is required from shareholders with respect to their securities," the group specifies in a statement.
