- Aug 5, 2021
Another tech giant in the queue to acquire Yahoo’s core business according to a report by Bloomberg. The report referring to the people familiar with the matter says, Google, the main unit of Alphabet Inc., is considering the bid for Yahoo and plans to make a first-round bid for the Internet giant’s web business next week.
Yahoo, which is going through a turmoil and exit of top executes in February announced for auction of its core business after the company span-off from Chinese e-commerce giant Alibaba. Last month Yahoo has announced to shut down its several product lines and to focus on major areas.
It was reported that Time Inc. is also considering for search business to enter into the digital arena but the company is still evaluating for the possible action for the bid. Verizon Communications Inc. which was the earlier and strong contender in the race might make a bid in the next week and the $213 billion valued company is planning to acquire company’s Yahoo Japan Corp.
People familiar with the matter say AT&T Inc. and Comcast have decided not to take part in the bidding. Microsoft Corp., the company who tried to acquire Yahoo in 2008 has decided against this time but company spokesperson for Microsoft declined to comment on the matter.
Not only the technology companies but financial institutions are also in the run for bid. Japan’s investment bank is also keen on buying Yahoo, two persons related to the matter commented. The official representatives of the companies considering the buyout were not available for the comments.