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Yahoo sells Net2Phone stake

Web portal Yahoo sold all its shares of Internet phone service provider Net2Phone, Net2Phone spokeswoman Sarah Hofstetter said Monday. Yahoo sold 586,203 shares of Net2Phone at $4.90 on Monday afternoon to a single investor. Net2Phone closed down 1 cent at $4.99 a share on Monday. Net2Phone and Yahoo have renegotiated their deal over the years. Net2Phone was initially paying the portal to be the exclusive Net phone provider on Yahoo, then last year arranged for Yahoo to purchase Net2Phone's technology for use in several areas, including the Yahoo Messenger software.

April 22, 2002