Today, the company is worth less than $38 billion, including its valuable Asian assets. Verizon, the largest US wireless carrier, also gets smaller but faster-growing assets including mobile applications and advertising technology for video and handheld devices. The company said it will return cash to shareholders and update investors on plans for the other assets later. The software giant offered more than $45 billion for Yahoo, but then-CEO Yang eventually rebuffed the deal as too cheap. Yahoo will be left with its stakes in Alibaba Group Holding Ltd and Yahoo Japan Corp., with a combined market value of about $40 billion.

Source: Mint July 25, 2016 11:22 UTC