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3 个月前
CORRECTED-Yahoo to buy back $3 bln shares
2017年5月16日 / 上午11点04分 / 3 个月前

CORRECTED-Yahoo to buy back $3 bln shares

(Corrects to remove reference to price range)

May 16 (Reuters) - Yahoo Inc said on Tuesday it would buy back $3 billion of its common shares, ahead of the company's pending deal with Verizon Communications Inc.

Shares in Yahoo, which has a 15 percent stake in Chinese e-commerce company Alibaba Group Holding Ltd, were up 0.6 percent at $50.15 in premarket trading.

Verizon agreed to buy Yahoo's core internet properties last year for $4.83 billion in cash. It lowered the original offer by $350 million in February following two massive cyber attacks at the internet company.

After the Verizon deal, Yahoo will be renamed Altaba, a holding company whose primary assets will be its stake in Alibaba and a 35.5 percent stake in Yahoo Japan. (Reporting by Supantha Mukherjee in Bengaluru; Editing by Maju Samuel)

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