Jim Cramer on Verizon/Yahoo!: Start of an Online Empire
Verizon wants to sell more phones and acquiring Yahoo! will enable it to do that because it will introduce customers to its services through its 'digital newspaper,' says Jim Cramer
Verizon (VZ) - Get Report wants to sell more phones and acquiring Yahoo! (YHOO) will enable it to do that because it will introduce new customers to its services through its 'digital newspaper,' said TheStreet's Jim Cramer. Verizon has long been seen as the front-runner in the bidding process for Yahoo's internet properties. Verizon acquired the struggling tech company's internet business for $4.8 billion. The process for the sale has taken months, as Yahoo has made no secret of wanting to get slimmer amid declining revenue.
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.
