A Yahoo logo is pictured in front of a building in Rolle, 30 km (19 miles) east of Geneva, December 12, 2012.
Reuters/Denis Balibouse/File photo
Verizon Communications Inc will announce an agreement on Monday to buy Yahoo Inc for about $5 billion, according to a person familiar with the matter.
The announcement will come before the start of New York trading hours, the source added.
The deal will end months of uncertainty about Yahoo’s future after the company announced plans to review strategic alternatives in February.
Yahoo was not immediately available, and Verizon declined to comment.
Bloomberg first reported that the deal will be announced Monday for $4.8 billion.
Reuters reported on Friday that Verizon had emerged as the front-runner in the Yahoo auction.
(Reporting by Liana Baker in San Francisco and Carl O’Donnell in New York; Editing by Lisa Von Ahn)
General Motors is re-evaluating its planned $1 billion investment in India and has put on hold moves to bring a new car platform to India as it re-assesses its strategy in the country, according to company officials. Full Article