Taboola surges after Yahoo buys stake, signs ad deal

Taboola.Com

28/11/2022 15:02

(Updates)
    ** Taboola.com Ltd's  TBLA.O  shares surge 60% to nearly $3
after Yahoo buys minority stake in co and signs long-term deal
with co
    ** Co on track for its best single-day performance to date
    ** Under agreement, Taboola to exclusively power native
advertising, or paid content, across all of Yahoo's digital
properties 
    ** Yahoo, which is backed by Apollo Global Management
 APO.N , to receive 25% of Taboola's equity 
    ** Deal to add to Taboola's revenue, EBITDA and free cash
flow
    ** TBLA shares were down ~77% YTD as of Friday's close
 (Reporting by Yuvraj Malik)
 ((yuvraj.malik@thomsonreuters.com))