Verizon to buy Yahoo's core business for $4.83 billion

July 25, 2016 11:11 AM

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Verizon Communications Inc (VZ.N) said it had agreed to buy Yahoo Inc's (YHOO.O) core internet business for $4.83 billion in cash, ending a lengthy sale process for the fading Web pioneer.

Buying Yahoo's operations will boost Verizon's AOL internet business, which it bought last year for $4.4 billion, by giving it access to Yahoo's advertising technology tools as well as other assets such as search, mail and messenger.

Also read: AT&T, Verizon Make Differing Bets as Wireless Growth Stalls

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