Understanding Altaba: Why Its Holdings Are Discounted by 30%
If you are new to Altaba Inc. (NASDAQ: AABA), don't be put off; everyone is new to Altaba. The company is what was left over after Yahoo! sold its core business to Verizon Communications (NYSE: VZ). Altaba is the new name for what is now classified as a financial holding company. Here's a look at assets and liabilities inside Altaba.
Yahoo!'s core business is all the applications and websites that made it one of the most well-known early pioneers of the internet. That all became part of Verizon along with most of its 8,600 employees on June 13 for the princely sum of $4.48 billion in cash. That money is being paid to Altaba.
In addition to getting Yahoo!'s core business, Verizon also received the Yahoo! brand name. If you owned Yahoo! stock, you will notice a change in your brokerage statement. The shares are now called Altaba and the ticker symbol is AABA. This has all been happening behind the scenes; there is nothing individual shareholders need to do.
Source: Fool.com
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