New York, The leading internet company ‘Yahoo’ is going to sell its basic assets to the Verizon communication for $4.8 billion and the deal come to Rs.480 in Pakistani currency.

The global media has announced that the dealing of these two companies will be announced today before the start of the trading in the New York Stock Exchange. But the companies did not confirm this deal yet.

Yahoo was facing some financial difficulties for last many years and it has adopted different strategies to come out of these difficulties. Now Yahoo has sold its basic assets to Verizon and it is the second biggest deal of Verizon after buying the assets of America Online (AOL), which this company bought for $4.4 billion last year. Now Verizon will become the legal owner of the assets of Yahoo including search engine, technology tools, messenger, mail, and property (real estate) about the online advertising and they will also grab the proprietary rights of various other assets of Yahoo. When this deal will be finalized, then Yahoo will have the shares of 35% in Japan and 15% share with the Chinese e-commerce company ‘Ali Baba Group Holding Limited’.

Yahoo