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

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

By Reuters | Updated: 7 June 2016 11:00 IST

Click Here to Add Gadgets360 As A Trusted Source

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.

Apps Discussion

Explore More...

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

Comments

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.