The holding company of what remains of Yahoo is to settle claims following a 2013 data breach for $47m (£36m), five years after the cyber attack saw details of 3 billion users stolen.

Altaba, a holding company made up the parts of Yahoo not bought in Verizon's acquisition of the internet company, said it had agreed to settle a consumer class action litigation following the data breach.

The agreement would settle three current pieces of litigation against Altaba, which took on the liabilities for two Yahoo data breaches in 2013 and 2014.

Yahoo was an early internet pioneer in the late 1990s, with an online search tool to rival Google with email and internet services and later a substantial online publishing arm.

But Altaba is what remains of the original Yahoo after the majority of its operations were bought by Verizon for $4.4bn in 2016.

The deal was subject to a writedown, cutting the value of Yahoo by $350m, after the full scale of the data breach was revealed.