Yahoo Chief Executive Marissa Mayer’s may not be around much longer. One piece of Yahoo has just sold and there are already talks about selling a more valuable second asset.
Verizon confirmed that the company will still follow through on the $4.83 billion deal where its AOL unit will acquire Yahoo. This is despite Yahoo’s huge hacking scandal.
According to Verizon’s CEO, Lowell McAdam, he expects regulators to OK the deal some time between December and February.
He has admitted that Verizon is examining whether the e-mail hack of 500 million accounts has had a “material impact” on the company.
Now it’s been said that Yahoo’s directors Jeff Smith of Starboard and Tom McInerney are now aiming at selling the firm’s 36% stake in Yahoo Japan. This is a deal that is valued at $8.5 billion, even more than the Verizon acquisition.
SoftBank holds a 43% stake in Yahoo Japan and wants the part that Yahoo owns because it is eyeing a merger with rival Rakuten, known as Japan’s Amazon, sources told The Post.
Disclaimer: We have no position in Yahoo! Inc. (NASDAQ: YHOO) and have not been compensated for this article.