Yahoo closes Spanish unit, faces $3-million fine

Posted On: May. 10, 2018 6:04 AM CST

Spain-based Yahoo Iberia S.L. is shutting its operations in the country amid the prospect of paying a €2.7-million ($3.2 million) fine, El Pais reported. Spanish authorities imposed the fine following an audit of Yahoo's tax payments for 2010 and 2011. The company also faces the prospect of having to return European Union subsidies worth €4.4 million. Yahoo Iberia has stopped commercial activity in the Spanish market since March 2016.