# C_2016434EN.01000701.xml

| 24.11.2016 | EN | Official Journal of the European Union | C 434/7 |
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24.11.2016

EN

Official Journal of the European Union

C 434/7

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Prior notification of a concentration

(Case M.8180 — Verizon Communications Inc./Yahoo Holdings, Inc.)

(Text with EEA relevance)

(2016/C 434/07)

| 1. | On 17 November 2016, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking Verizon Communications Inc. (‘Verizon’, USA) acquires within the meaning of Article 3(1)(b) of the Merger Regulation control of the whole of Yahoo Inc.’s operating business (‘Yahoo’, USA) by way of purchase of shares. It will not acquire Yahoo’s cash and marketable securities, its shares in Alibaba Group Holdings Limited, its shares in Yahoo Japan Corporation, certain minority investments, or Excalibur IP, LLC, a wholly owned subsidiary of Yahoo that owns certain intellectual property not core to Yahoo’s operating business. |
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1.

On 17 November 2016, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking Verizon Communications Inc. (‘Verizon’, USA) acquires within the meaning of Article 3(1)(b) of the Merger Regulation control of the whole of Yahoo Inc.’s operating business (‘Yahoo’, USA) by way of purchase of shares. It will not acquire Yahoo’s cash and marketable securities, its shares in Alibaba Group Holdings Limited, its shares in Yahoo Japan Corporation, certain minority investments, or Excalibur IP, LLC, a wholly owned subsidiary of Yahoo that owns certain intellectual property not core to Yahoo’s operating business.

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| 2. | The business activities of the undertakings concerned are:
  —   for Verizon: a provider of communications, information and entertainment products and services to consumers, businesses and governmental agencies. It provides wireless and wireline services, with a number of related products and services, and operates network infrastructure. AOL, one of its subsidiaries, is a media technology company that connects publishers, advertisers and consumers over its platforms,
  —   for Yahoo: a technology company that offers personalised experiences to consumers and connects advertisers with target audiences. It provides various internet services such as search, communications, and digital content. Yahoo’s assets include content brands in finance, news, sports, as well as email services. Yahoo owns various technology assets in the advertising space. |
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2.

The business activities of the undertakings concerned are:

—   for Verizon: a provider of communications, information and entertainment products and services to consumers, businesses and governmental agencies. It provides wireless and wireline services, with a number of related products and services, and operates network infrastructure. AOL, one of its subsidiaries, is a media technology company that connects publishers, advertisers and consumers over its platforms,

for Verizon

—   for Yahoo: a technology company that offers personalised experiences to consumers and connects advertisers with target audiences. It provides various internet services such as search, communications, and digital content. Yahoo’s assets include content brands in finance, news, sports, as well as email services. Yahoo owns various technology assets in the advertising space.

for Yahoo

| 3. | On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved. |
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3.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.

| 4. | The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
  Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301), by email to COMP-MERGER-REGISTRY@ec.europa.eu or by post, under reference M.8180 — Verizon Communications Inc./Yahoo Holdings, Inc. to the following address:





  European Commission |
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| Directorate-General for Competition |
| Merger Registry |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |

4.

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301), by email to COMP-MERGER-REGISTRY@ec.europa.eu or by post, under reference M.8180 — Verizon Communications Inc./Yahoo Holdings, Inc. to the following address:

European Commission

Directorate-General for Competition

Merger Registry

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

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(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

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