Salem Radio Network News Monday, September 25, 2017

Science

Altaba, formerly Yahoo, to start trading on Monday

(Reuters) – Shares of Altaba Inc, the holding company left behind after Yahoo Inc’s sale of its core internet business to Verizon Communications Inc, will begin trading on the Nasdaq on Monday.

Altaba’s main assets include a 15.5 percent stake in Chinese e-commerce leader Alibaba Group Holding Ltd and a 35.5 percent holding in Yahoo Japan Corp.

Verizon closed its $4.48 billion deal with Yahoo last week, marking the end of the tech pioneer as a stand-alone internet company, which was once valued at more than $100 billion.

Yahoo was officially renamed Altaba on Friday. Its shares will trade under the symbol “AABA”.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Sai Sachin Ravikumar)

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