From PC World: Verizon Communications will be bidding about US$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 over 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, WSJ 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.
Verizon is not unfamiliar to the acquisition and integration of Web companies after its 2015 acquisition of AOL for $4.4 billion.
Yahoo posted a loss of $99 million on revenue of a little over $1 billion in the first quarter of this year. Revenue in the first quarter of last year was over $1.2 billion.
View: Article @ Source Site
