Yahoo delays US$4.8b sale of core business to Verizon

San Francisco

YAHOO said on Monday that its US$4.8 billion deal to sell its core Internet assets to US telecom titan Verizon has been delayed several months.

The closing of the deal, originally set for this quarter, has been pushed into the next quarter due to "work required to meet closing conditions", the California online pioneer said in a statement, adding that it is "working expeditiously to close the transaction as soon as practicable".

The news came in an earnings release showing that Yahoo swung to a profit of US$162 million in the final three months of last year.

The deal with Verizon, which would end Yahoo's run…