Verizon poised to submit Yahoo bid; prepared to snap up Yahoo Japan stake

8 Apr 2016

Verizon Communications plans to make a first-round bid for Yahoo’s web business next week, Bloomberg reports, and is willing to acquire the company’s 35.5% stake in Yahoo Japan to help sweeten the deal. According to the news agency, citing people familiar with the matter, Verizon and its subsidiary AOL are working with at least three financial advisers on the Yahoo bid. Yahoo is said to be committed to selling its stake in Yahoo Japan along with its core business. Japan’s SoftBank Group Corp – the majority shareholder in Yahoo Japan – is said to be uninterested in the Japanese asset, meanwhile.

A separate source informed Bloomberg that Google is also considering bidding for Yahoo’s core business, while AT&T and Comcast have decided against bidding. Microsoft Corp, which failed with a hostile bid for Yahoo in 2008, will not make an offer on this occasion. First-round bids for the company’s main assets are due on 11 April.

Japan, United States, Verizon Communications, Yahoo! Mobile