New York, the popular internet company, Yahoo is going to sell its assets to the company, ‘Verizon Communications’ for $4.8 billion. This deal is conducted for Rs.480 billion according to Pak currency.
According to global media, this deal will be announced before the starting of the trading in New York Stock Exchange. However, the companies, Yahoo and Verizon said sorry to comment on this deal.
Yahoo is facing some financial hardships for last many years and it is adopting different strategies to continue his survival. Verizon bought American Online (AOL) for $4.4 billion. Now the purchasing of assets of Yahoo is the biggest deal of Verizon and the company will get the proprietary rights of technology tools, search engine, mail, messengers and property (real estate) concerning with online advertising and various other assets of Yahoo. After this dealing, the real administration of Yahoo will have the rights of 35% in Japan and 15 % shares of the Chinese e-commerce company ‘Ali Baba Group Holding Limited’.
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