Verizon to offer Yahoo's core business buyout at nearly Rs 32,000 crore

Verizon Communications is all set to announce its decision to buy Yahoo's core business for $4.8 billion (nearly Rs 31,933.2 crore), Bloomberg reported, quoting unnamed sources. The deal comes at a time when uncertainty about the future of Yahoo was only getting stronger by the day. 

Earlier this month, the once Internet-giant reported a $440 million (nearly Rs 2,930 crore) quarterly loss, up sharply from the $22 million (nearly Rs ​146.36 crore) loss posted in the year ago period.

Speaking after the corporate result was made public, CEO Marissa Mayer said, "Our board has made great progress on strategic alternatives."

However, a Gizmodo report says, that the deal offer is pittance "considering that at the peak of its success, Yahoo was valued at $125 billion (nearly Rs ​8.32 lakh crore)" 

In February, Yahoo had announced that is was reviewing its strategic alternatives amid pressure from shareholders to salvage what was left of a company that was once a leader in the online space but has since been taken over by Google and Facebook, a PTI report dated July 19 said. 

The deal announcement puts an end to months of speculation about the sale of Yahoo's core business. According to a Bloomberg report, the deal will add the company and its daily users to Verizon's and will end Mayer's term.