Verizon to Submit $3 Billion Bid for Yahoo's Internet Business - WSJ

Verizon to Submit $3 Billion Bid for Yahoo's Internet Business - WSJ
Highlights
  • Yahoo is expected to hold at least one more round of bidding.
  • Verizon plans to submit a second-round bid for Yahoo.
  • TPG is also expected to submit a second round bid for the assets.
Verizon Communications Inc plans to submit a second-round bid of around $3 billion (roughly Rs. 20,067 crores) for Yahoo Inc's core internet business, the Wall Street Journal reported, citing people familiar with the matter.

Private-equity firm TPG was also expected to submit a second round bid for the assets before Monday's deadline, the newspaper reported.

Reuters reported last month that Verizon was working on a bid for Yahoo's core assets with an investment bank.

Yahoo is expected to hold at least one more round of bidding, and the offers could change by the final round, the paper reported.

Yahoo, Verizon and TPG could not be immediately reached for comment outside regular U.S. business hours.

© Thomson Reuters 2016

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