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Posted on June 9, 2017 by staff

Yahoo shareholders approve $4.48bn sale to Verizon

Shareholders in Yahoo have officially approved the sale of the company to Verizon for $4.48 billion.

The deal, which is expected to be finalised on Tuesday, will see Yahoo and AOL merge into a combined brand named Oath.

Marissa Mayer is to step down as Yahoo CEO while AOL is planning more than 2,000 redundancies.

The cost of the deal was lowered by $350 million following news of a huge hacking attack on Yahoo users’ passwords and personal information.