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To Change Or Not To Change: Altaba Coming For Yahoo?

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To Change Or Not To Change: Altaba Coming For Yahoo?

To change or not to change, that is the question for Yahoo! Inc. (NASDAQ: YHOO). Initial reports from both CNBC and the Wall Street Journal claimed after the sale of its core internet business to Verizon Communications Inc. (NYSE: VZ) closes, Yahoo’s “core” will change its name to Altaba Inc., an alternative name and nod to Alibaba Group Holdings Ltd(NYSE: BABA) stake in the company.

These headlines were very misleading to the public, however.

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The name change stems from a 8-K regulatory filing, which did indicate that Yahoo will change its name to Altaba. However, journalists have oversimplified the filing by overlooking the fact that the name change is of Yahoo’s core business currently named “RemainCo,” the entity that will remain after Verizon closes its acquisition.

The Yahoo as we know it will continue to operate as it is — Yahoo mail, finance and search.

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Posted-In: CNBC Wall Street JournalNews Asset Sales Tech Media Best of Benzinga

 

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