Verizon to offer $3B for Yahoo’s core Internet business
Verizon Communications will bid about $3 billion for the Internet assets of ailing Yahoo, according to a newspaper report.
The communications company will try to beat other potential bidders such as private-equity firm TPG with a deal that would likely aim to combine Yahoo Web properties, with more than 1 billion users a month, with Verizon’s growing business in online ads, the Wall Street Journal reported late Monday.
The bidding is far from final and Yahoo is expected to hold at least one more cycle of bidding, the Journal J said, quoting people familiar with the matter. But the price offered by Verizon could be an indicator of which way the fight for the acquisition of the Internet company is going.
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