Verizon selling Yahoo and AOL to Apollo in €4.1bn deal
Verizon said it will keep a 10% stake in the new company, which will be called Yahoo (Yahoo/PA)
AOL and Yahoo are being sold again, this time to a private equity firm.
Verizon will sell Verizon Media, which consists of the pioneering tech platforms, to Apollo Global Management, in a $5bn (€4.1bn) deal.
Verizon said on Monday that it will keep a 10% stake in the new company, which will be called Yahoo.
As part of the deal, Verizon will receive $4.25bn (€3.5bn) in cash, preferred interests of $750m (€622m) and the minority stake.
The transaction includes the assets of Verizon Media, including its brands and businesses such as Yahoo and AOL.
The deal is expected to close in the second half of the year.
