What You Need to Know About Altaba Inc. and Its Investments
When Yahoo! sold its operating business to Verizon Communications (NYSE: VZ) for $4.48 billion, that was not the end of Yahoo as a publicly traded investment. What remains of the former Yahoo! company is now known as Altaba (NASDAQ: AABA), and operates as a closed-end management investment company with large holdings in a few handpicked companies. The company boasts a $56 billion market cap, dwarfing the Verizon deal's financial impact.
Altaba just shared its first financial update since the Verizon transaction, and also re-upped its share buyback program with a fresh $5 billion commitment. I'm here to give you a quick update on Altaba's affairs.
Let's start with an overview of Altaba's three largest holdings. That would be Alibaba (NYSE: BABA), Yahoo! Japan, and Snap (NYSE: SNAP).
Source: Fool.com
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