2 min read
The tech industry is currently abuzz with an on-going bidding battle on Yahoo’s Web business. Verizon Communications Inc. have expressed interest in the matter. While according to sources, Google is also weighing their options on this possible acquisition.
News about Yahoo not doing to well have been afloat for quite some time now. Picking up on these rumors, Product Hunt even went for a very successful troll by announcing they had acquired Yahoo. While that was just an April Fool’s prank, this new bid for Yahoo’s Web business is very much real. Yahoo launched an auction of its core business in February after it shelved plans to spin off its stake in Chinese e-commerce giant Alibaba.
After Yahoo extended the deadline for first-round bids by a week, several potential bidders have come forth. Verizon, who are also planning to acquire Yahoo Japan Corp., appear to have already planned to go ahead with a first-round bidding. Alphabet’s largest subsidiary Google is currently mullling a bid for acquiring the Internet giant’s web branch.
Microsoft Corp., which failed with a hostile bid for Yahoo in 2008, won’t be bidding this time. Time Inc. and private equity funds Bain and TPG appear to be evaluating their bid while AT&T Inc. and Comcast have backed out.
Image Source – The Next Web
