Yahoo Sells Back Stake in Zed Mobile Portal

Yahoo has dropped its stake in TeliaSonera’s Zed wireless data portal, but said it will continue to offer co-branded services with Zed across Europe.

Yahoo purchased a 15-percent equity interest in Sonera Zed in 2002 with an option to acquire the remaining interests. However, Yahoo! decided to withdraw from the transaction and will sell its stake back to TeliaSonera for the same purchase amount.

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