In the latest chapter of Verizon’s acquisition of Yahoo, the latter announced Monday that it will change the name of its stake in Alibaba and other holdings to Altaba, effective as soon as the Verizon deal closes.
The assets using the name Yahoo – such as email, sports and finance content – will come under the Verizon umbrella once the $4.8 billion sale goes through. That means the remaining parts of the business, which will be publicly traded and are currently known as RemainCo, can no longer use the name Yahoo. These include 15 percent of Chinese e-commerce company Alibaba and 35.5 percent of Yahoo Japan.
The name Altaba is pretty similar to Alibaba, and is thought to be a combination of the words “alternative” and “Alibaba.”