gular subsidiary. This includes the stock in the business subsidiaries that make up Yahoo that are not already in the single subsidiary, as well as the odd assets like benefit plan rights. This is what is being sold to Verizon. A license of Yahoo’s oldest patents is being held back in the so-called Excalibur portfolio. This will stay with Yahoo, as will Yahoo’s stakes in Alibaba Group and Yahoo Japan.</p> 
   <p data-para-count="479" data-total-count="1333">It is hard to overestimate how complex an asse