Economic news

Yahoo shareholders approve sale of core assets for $4.5 billion

Yahoo Inc shareholders approved a revised agreement to sell its core internet business to Verizon Communications Inc for $4.48 billion. It is expected that the deal will be closed by Tuesday, June 13.

Verizon intends to cut 2,100 workers from the combined venture.

Earlier Yahoo announced changes that will occur after the completion of the deal with Verizon: the company will part with CEO Marissa Mayer and several other top managers, and will be renamed Altaba.



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