Current Affairs

Yahoo to be renamed Altaba after Verizon deal

Yahoo confirmed on Monday that chief executive Marissa Mayer will quit the company's board after its merger with Verizon. 
●    Mayer is expected to remain with Yahoo's core business, which is being bought by the US telecom titan. 
●    Yahoo is selling its internet operations as a way to separate that from its more valuable stake in Chinese internet giant Alibaba. 
●    The share-tending entity, to be renamed Altaba Inc., will act as an investment company with its board reduced to five members, according to a filing with the Securities and Exchange Commission. 
●    Yahoo co-founder David Filo and Mayer will be among those resigning from the board, according to the filing. 

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