Verizon Reportedly To Announce Deal For Yahoo Core Assets On Monday

(RTTNews) - Verizon Communications Inc. (VZ) will announce plans to buy Yahoo Inc.'s (YHOO) core assets for a bit more than $4.8 billion before the market opens on Monday, Bloomberg reported citing two people with the matter.

The deal includes Yahoo real estate assets, while some intellectual property is to be sold separately, the report said. 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.

Earlier this year, Yahoo announced decision to explore its strategic options and has been seeking potential suitors to sell its core internet business as well as patents and assets.