US telecoms giant Verizon Communications is set to buy Yahoo’s internet operations for $4.8 billion according to reports. Yahoo announced in February that it was looking at selling its core business.
Additionally, it has been reported that Marissa Mayer, Yahoo’s chief executive, is expected to receive a severance payout worth $57 million.
In comparison with the current price tag, Yahoo reached a peak valuation of $125 billion in January 2000.
The deal is expected to be officially announced today. More to follow.
