The offer on the outstanding shares of AOL Inc. (“AOL”) has not yet begun. This press release is only for informational purposes and is neither an offer to purchase nor an invitation to sell AOL shares and will not replace the tendering record that Verizon Communications Inc. (“Verizon”) and its acquisition subsidiary will submit to the U.S. Securities and Exchange Commission (SEC) at the outset of the offer. At the time of the offer, Verizon and its acquisition subsidiary will submit offer documents for Schedule TO and AOL to submit to the SEC an invitation/recommendation statement regarding Schedule 14D-9 regarding the offer. The offer (including an offer to purchase, a corresponding letter of transmission and certain other tender documents) and the invitation/recommendation statement contain important information. Holders of AOL shares are encouraged to read these documents when they are available, as they contain important information that AOL securityholders should consider before making a decision on the tender for their securities. The offer to purchase, the associated letter of transmission and certain other offer documents and the invitation/recommendation statement are made available to all AOL shareholders at no cost. The tender file and the invitation/recommendation statement are made available free of charge on the SEC`s website under www.sec.gov. Other copies can be obtained for free on Verizon`s website at www.verizon.com/about/investors or verizon Investor Relations, Verizon Communications Inc., One Verizon Way, Basking Ridge, NJ 07920. Two months before the deal is reached for Yahoo!, Verizon announced that it will place Yahoo! and AOL under a roof called Oath.
[17] The agreement was reached on June 13, 2017 and Oath was launched. [18] At the end of the agreement, Marissa Mayer, the boss of Yahoo!, resigned. [18] Yahoo operations! not acquired under the agreement have been renamed Altaba, a holding company whose main asset is its 15.5 percent stake in Alibaba Group and 35.5 percent in Yahoo! Japan. [18] After the merger, Oath cut 15% of Yahoo-AOL`s staff. [3] In 2018, Altaba sold Yahoo! Japan at SoftBank Group.